Former broker Mayur Dalal has been barred by FINRA for refusal to provide on-the-record testimony during FINRA’s investigation concerning a Form U5 filed by his previous firm, according to FINRA’s Letter of Acceptance, Waiver and Consent (AWC), under review by securities lawyer Alan Rosca.
Dalal’s previous firm filed a Form U5 form stating Dalal’s termination from the firm alleging he failed to follow the firm’s policy related to the Disclosure of Outside Business Activities and Private Securities Transactions, as stated in the AWC.
Furthermore, FINRA staff sent a request to Dalal for on-the-record testimony and as stated in an email to FINRA, broker Mayur Dalal acknowledges that he received the request and will not appear for on-the-record testimony.
Without admitting or denying the findings, Mayur Dalal consented to the sanction including a bar from associating with any FINRA firm in all capacities and solely for the purposes of the proceeding brought by or on behalf of FINRA, prior to a hearing and without an adjudication of any issue of law or fact.
Investors who are concerned about their investments with Dalal are encouraged to contact securities lawyer Alan Rosca and his colleagues at the Rosca Scarlato LLC law firm for a free case evaluation and discussion of potential options. Call 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
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Mayur T Dalal Has One Withdrawn Customer Dispute
As reported on Dalal’s Brokercheck page, a customer dispute filed in June 2017 alleging he was not properly informed of the fees and charges associated with the variable annuity he purchased. The customer was seeking $117,000 for the alleged damages and the dispute. Reportedly, the dispute has been withdrawn as per a letter submitted to AXA from the customer.
Dalal Was Registered with FINRA for 31 Years
Dalal joined the securities industry in 1988 and switched employers three times according to his Brokercheck page. He was more recently employed with Kestra Investment Services located in New Hyde, New York from June 2016 until February 2020.
He was also registered with two firms located in New York, New York from July 1988 through January 2000; the Equitable Life Assurance Society of the United states and AXA Advisors.
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.
Concerned About Your Investment with broker Mayur T Dalal? Potential Options for Investors
The securities lawyers of the Rosca Scarlato LLC law firm often advise and represent investors who are victims of broker misconduct and they are currently investigating broker Mayur Dalal on allegations of outside business activities and private securities transactions.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Investors who are concerned about their investment with Mayur Dalal may contact attorney Alan Rosca or his colleagues for a free, no-obligation case evaluation by calling 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.