Shailesh Negandhi Reprimanded by Texas State Securities Board

Shailesh Negandhi (CRD #: 4897340), a previously registered broker with UBS Financial Services, is the subject of a regulatory action in Texas. This disclosure appears on his BrokerCheck record, accessed on October 11, 2024. Keep reading if you have questions regarding his alleged conduct. 

Regulatory Action

On August 16, 2024, the Texas State Securities Board reprimanded Shailesh Negandhi following allegations that he had engaged in a pattern of short-term trading in CEFs without a reasonable basis to do so and in violation of his firm’s policies. –

Employment Separation After Allegations 

On March 24, 2022, UBS Financial Services fired Shailesh Negandhi following allegations that he violated firm policies related to his handling and the suitability of client investments. 

Investor Allegations 

On June 25, 2020, an investor alleged that Shailesh Negandhi misrepresented an unsuitable recommendation to invest in and hold an options overlay strategy. The dispute settled for $350,000. 

Misrepresentation 

FINRA Rule 2020 prohibits the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Background Information 

Shailesh Negandhi has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 31 Futures Managed Funds Examination 
• Series 7 General Securities Representative Examination

He has registered with three firms: 

• UBS Financial Services (CRD #: 8174) 
• Morgan Stanley (CRD #: 149777) 
• CitiGroup Global Markets (CRD #: 7059) 

Kurta Law Can Help 

If you worked with Shailesh Negandhi and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.