Tariq Sales Suspended by FINRA

Tariq Sales (CRD #: 2851440), a broker formerly registered with Spartan Capital Securities, has been suspended by FINRA, according to his BrokerCheck record, accessed on June 8, 2023. If you have questions about his alleged conduct as a broker, keep reading.

FINRA Suspension

On May 31, 2023, Tariq Sales received a Letter of Suspension alleging that he failed to comply with an arbitration award/settlement agreement or to sufficiently respond to a FINRA request for information about the state of his compliance.

His suspension took effect on May 31, 2023, and will continue until the required payment is made or discharged.

On October 11, 2022, Spartan Capital Securities filed a complaint against Tariq Sales alleging that he breached a promissory note. An arbitration award made Tariq Sales liable for $5,000 in damages plus interest. You can read the arbitration award here.

FINRA Rule 9554

FINRA Rule 9554 penalizes brokers who fail to comply with arbitration awards or settlements by suspending or canceling their registration. Brokers have 21 days to request a hearing before their suspension or cancellation becomes final.

Article VI, Section 3 of FINRA By-Laws

Article VI, Section 3 of FINRA By-Laws allows FINRA to suspend or cancel the membership of any member who fails to comply with arbitration awards or settlement agreements.

Background Information

Tariq Sales has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

He previously worked for the following firms:

• Spartan Capital Securities (CRD#:146251)
• Newbridge Securities Corporation (CRD#:104065)
• Aegis Capital Corporation (CRD#:15007)
• GunnAllen Financial (CRD#:17609)
• Reid & Rudiger (CRD#:47263)
• First Republic Group (CRD#:39781)
• Briarwood Investment Counsel (CRD#:6368)
• Nichols, Safina, Lerner & Company (CRD#:35476)
• Meyers Pollock Robbins (CRD#:13436)

Kurta Law Can Help

If you worked with Tariq Sales and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.