Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Sharif Sharif (Sharif), previously associated with LPL Financial LLC, has at least 2 disclosable events. These events include 2 tax liens, alleging that Sharif recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint on February 02, 2025.
While registered as an investment advisor in the state of Illinois, Sharif Azmi Sharif entered into a Letter of Acceptance, Waiver and Consent (“AWC”) with FINRA a self-regulatory organization registered under Federal Act. Pursuant to AWC No. 2022076175701, on June 11, 2024. Sharif Sharif violated Rules 3280 and Rule 2010, based upon the following facts. Sharif Sharif was a founding investor and employee in a crypto asset mining company. In February, 2022, he and his partner Azmi Sharif held a meeting with LPL customers concerning investment in the company. Both investors and investor family members collectively invested approximately $900,000 in securities known as SAFEs (simple agreements for future equity). The investments were, among other things, the purchase of crypto asset mining equipment. LPL was notified of the transaction. The FINRA AWC resulted in a nine month suspension from associating with any FINRA member in all capacities. The current action seeks revocation in Illinois based upon the FINRA AWC.
