On December 12, 2019 broker Gautam Arora’s former FINRA member firm, Transamerica Financial Advisors, terminated his registration by filling a Form U5 stating that Arora allegedly solicited various individuals to participate in unapproved investments away from the firm and he allegedly entered lending arrangements and promissory notes with these individuals without receiving prior approval from the firm, according to FINRA Letter of Acceptance, Waiver and Consent(AWC), under review by investor rights attorney Alan Rosca.
FINRA started an investigation after receiving the Form U5 in December 2019. Arora allegedly cooperated with FINRA’s investigation until December 2020.
On November 25, 2020 FINRA staff sent Arora a request for documents and information. During a phone call with FINRA on December 4, 2020 and an email on December 7, 2020, Arora acknowledged that he received FINRA’s request and will not produce the requested information and documents, the AWC reports.
Without admitting or denying the findings, Arora consented to the sanction and to the findings that he refused to respond to an information request issued by FINRA. As a result, FINRA barred broker Guatam Arora from associating with any FINRA member firm in all capacities.
Investor rights attorney Alan Rosca of the Rosca Scarlato LLC law firm is investigating Guatam Arora’s alleged solicitation of individuals to participate in unapproved investments. Investors who are concerned about their investments with Arora are encouraged to contact attorney Alan Rosca for a free case evaluation and discussion of recovery options, or to provide any useful information. Call 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
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Guatam Arora Allegedly Engaged in Other Outside Business Activities
According to Arora’s FINRA Brokercheck page, he is involved in multiple disclosed other business activities. Arora is reportedly engaged with World Financial Group located in Long Beach, California, working as an associate. According to his brokercheck report, his activity at World Financial Group is investment related.
Guatam Arora is also engaged with Real Estate Ebroker located in Carlsbad, California. According to the Brokercheck disclosures, he works as a real estate realtor, purchasing and selling homes.
He is also engaged with Keller William Realty located in Tustin, California, where he reportedly works as a realtor and salesperson.
Investors who are concerned about their investments with broker Guatam Arora are encouraged to contact attorney Alan Rosca for a free case evaluation and discussion of recovery options, or to provide any useful information. Call 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Guatam Arora was Registered with FINRA for Six Years
Broker Guatam Arora joined the securities industry in 2013. He was employed with Transamerica Financial Advisors located in Orange, California from February 2013 until December 2019 according to his FINRA Brokercheck Page.
Arora was terminated from Transamerica Financial in December 2019. The firm allegedly received information that Arora allegedly solicited various individuals to participate in unapproved investments away from the firm. In addition, Arora reportedly advised these individuals to enter leading arrangements and promissory notes without receiving prior approval from the firm, according to his FINRA Brokercheck page.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Invested with Guatam Arora? Securities Lawyers May Be Able to Help
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or broker misconduct and is currently investigating broker Guatam Arora’s alleged solicitation of individuals to participate in unapproved investments.
The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who are concerned about their investment with Guatam Arora are encouraged to contact Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
