Securities Lawyers Blog
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Shadi Barakat (Barakat), previously associated with Alexander Capital, L.p., has been subject to at least one disclosable event. These events include one tax lien. Several of those complaints against Barakat concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.
FINRA BrokerCheck shows a pending customer complaint on September 09, 2024.
Barakat was named a respondent in a FINRA complaint alleging that he failed to provide on-the-record testimony requested by FINRA as a part of its investigation into whether he engaged in churning and excessive trading in his customers’ accounts. The complaint alleges that Barakat’s refusal to appear for testimony impeded FINRA’s investigation into his potential misconduct.
