Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Tamir Shabat (Shabat), previously associated with Sa Stone Wealth Management Inc., has at least one disclosable event. These events include one tax lien, alleging that Shabat recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on January 14, 2025.
The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 (“Exchange Act”) and Section 203(f) of the Investment Advisers Act of 1940 (“Advisers Act”) against Tamir Shabat (“Shabat” or “Respondent”). The Commission finds that these proceedings arise out of unregistered broker activity by Shabat who, between at least June 2019 and March 2020 (the “Relevant Period”), solicited investors on behalf of StraightPath Venture Partners, LLC (“StraightPath”). StraightPath was an entity that offered investments in privately offered membership interests in limited liability companies (the “StraightPath Funds”) that each purportedly owned shares of private issuers that had prospects of becoming publicly traded issuers (“Pre-IPO Issuers”). During the Relevant Period, Shabat successfully solicited, either directly or through other unregistered agents he compensated, at least $6 million in investments for the StraightPath Funds from at least 80 investors. Through his unregistered conduct brokering transactions between investors and the StraightPath Funds, Shabat received over $145,800 in transaction-based compensation.
