Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on April 27, 2016 indicate that former New York-based McGinn Smith & Company broker Brian Shea is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Shea (CRD# 2570872).
Brian Shea has spent 13 years in the securities industry and was most recently registered with McGinn Smith & Company in Albany, New York (1996-2010). Previous registrations include Pointe Capital in Tampa, Florida (2001-2004) and Online Capital Securities in Albany, New York (2001-2003). He is currently not registered with any state or firm.
According to his BrokerCheck report, Brian Shea is the subject of one regulatory sanction and one pending customer complaint.
In 2011, FINRA sanctioned Brian Shea following allegations that his member firm, McGinn Smith & Company, acting through him as financial operations principal, “used the instrumentalities of interstate commerce to conduct a securities business while failing to maintain its minimum net capital requirement.” Mr. Shea was issued a $7,500 fine and suspended from acting as a financial operations principal for 15 business days.
In 2009, a customer alleged that Brian Shea, while employed at McGinn Smith & Company, recommended unsuitable private placements. The customer is seeking $661,000 in damages in the pending complaint.
If you have complaints regarding Brian Shea, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.