Securities Lawyers Blog
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) former advisor Suhail Khan (Khan), formerly associated with LPL Financial, LLC. (LPL Financial) in Chicago, Illinois was barred by FINRA. In August 2017 Khan failed to respond to requests by FINRA for documents and information.
Thereafter, in May 2018 a customer filed a complaint alleging that between 2013 and 2017, the advisor recommended unsuitable, speculative investments in the advisor’s own business, a hedge fund, oil and gas partnerships, and a real estate investment trust and that some of these investments were unregistered securities.
At this time it is unclear the nature or scope of the alleged OBAs and/or private securities transactions that Khan may have been involved in. Khan’s disclosures state a number of OBAs including Omni Casualty and Property Insurance and SK Associates Financial.