Christopher Shaw (CRD #5011382), a broker registered with Newbridge Securities in Belmont, North Carolina, is involved in two pending investor disputes, according to his BrokerCheck record, accessed on April 23, 2021. Shaw also offers advisory services through CJS Wealth Management.
On March 25, 2021, an investor alleged that Christopher Shaw breached his contract and recommended unsuitable, complex alternative investments. The investor is seeking $175,000; the dispute is pending.
Earlier that same month, on March 10, 2021, an investor alleged that Christopher Shaw violated North Carolina securities statutes. The investor is seeking $100,000; the dispute is pending.
Settled Investor Disputes Alleging Christopher Shaw Recommended Unsuitable Investments
There are five settled disputes on Christopher Shaw’s record, all of which allege he made unsuitable investment recommendations. FINRA requires that brokers only recommend suitable investments, meaning that they can only recommend investments that account for the investor’s age, risk tolerance, and financial goals. These all happened over a relatively short period of time, between July of 2019 and December 2020.
- On December 16, 2020, investors alleged that Christopher Shaw recommended unsuitable investment recommendations. The investor sought $500,000; the dispute settled for $50,000.
- On August 24, 2020, investors alleged that they did not qualify as accredited investors when Shaw solicited them for a high-risk investment. “Accredited” usually means that the investor has a high net worth. The investors also alleged that they have no recollection of signing subscription documents and no memory or receiving or reviewing any memoranda. The investors sought $90,000; the dispute settled for $13,183.
- On February 26, 2020, an investor alleged that Shaw engaged in misrepresentation and recommended unsuitable investments. The investors sought $500,000; the dispute is settled for $41,237.
- On November 4, 2019, an investor alleged that Christopher Shaw recommended unsuitable investments. The investor sought $350,000; the dispute settled for $125,000.
- On July 8, 2019, an investor alleged that Christopher Shaw recommended unsuitable, alternative securities. The investor sought $450,000; the dispute settled for $175,000.
Employment Termination Following Allegations
On September 2, 2020, Pruco Securities fired Christopher Shaw following allegations that he executed discretionary trades and inaccurately marked certain trades as unsolicited.
Christopher Shaw has passed the Series 65 Uniform Investment Adviser Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Series 66 Uniform Combined State Law Examination, the Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination. He is a registered broker in North Carolina and South Carolina and a registered investment adviser in North Carolina.
- Newbridge Securities Corporation (CRD #: 104065)
- Newbridge Financial Services Group (CRD #: 130814)
- Prudential Financial Planning Services (CRD #: 5685)
- Kalos Management (CRD #: 133025)
- Kalos Capital (CRD #: 44337)
- Blackbird North America (CRD #: 104176)
If you worked with Christopher Shaw and you have questions about the suitability of your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for a free case consultation.