History Of Mayur T. Dalal
Respondent entered the securities industry in June 1988 and subsequently became
registered through an association with a FINRA-member firm in July 1988. On June 2,
2016, Respondent became registered as a GSR, IR, and IP through an association with
Kestra Investment Services, LLC (CRD No. 42046) (the firm). On February 24, 2020, the
firm filed a Uniform Termination Notice for Securities Industry Registration (“Form
U5″), stating that Respondent had been discharged on that date. Respondent is not
currently associated with a FINRA member, but remains subject to FINRA’ s jurisdiction
pursuant to Article V, Section 4 of FINRA’ s By-Laws.
Mayur T. Dalal Report
FINRA Rule 8210 states, in relevant part, that FINRA has the right to require a “person
subject to FINRA’ s jurisdiction to provide information orally, in writing, or electronically
. . . with respect to any matter involved in the investigation, complaint, examination or
proceeding.” FINRA Rule 8210 also specifies that “[n]o person shall fail to provide
information or testimony . . . pursuant to this Rule.” A failure to provide information
and/or testimony requested by FINRA pursuant to Rule 8210 violates Rule 8210.
Conduct that violates FINRA Rule 8210 also violates FINRA Rule 2010, which requires
associated persons to “observe high standards of commercial honor and just and equitable
principals of trade.”
On February 24, 2020, the firm filed a Form U5, stating that Respondent had been
discharged on that date, because he “failed to follow the firm’s policy related to the
Disclosure of Outside Business Activities and Private Securities Transactions.”
On February 19, 2021, FINRA sent a request to Respondent, seeking on-the-record
testimony pursuant to FINRA Rule 8210 on March 5, 2021. As stated in his counsel’s
email to FINRA on February 22, 2021, and by this agreement, Respondent acknowledges
that he received FINRA’s request and will not appear for on-the-record testimony at any
time. By refusing to appear for on-the-record testimony as requested pursuant to FINRA
Rule 8210, Respondent violated FINRA Rules 8210 and 2010.
Penalties, Punishments & Sanctions
■ A bar from association with any FINRA member in any capacity.
Respondent understands that if he is barred or suspended from associating with any
FINRA member, he becomes subject to a statutory disqualification as that term is defined
in Article III, Section 4 of FINRA’s By-Laws, incorporating Section 3(a)(39) of the
Securities Exchange Act of 1934. Accordingly, he may not be associated with any
FINRA member in any capacity, including clerical or ministerial functions, during the
period of the bar or suspension. See FINRA Rules 8310 and 8311.
Mayur T. Dalal Review
Respondent refused to provide on-the-record testimony pursuant to FINRA Rule 8210, in
violation of FINRA Rules 8210 and 2010.
Who is the Financial Adviser?
A financial adviser or advisor is a professional who offers financial services to clients based on their financial situation. In several countries, financial advisors have to finish specific training and register with a regulatory body to provide advice.
How To Spot A Fraud Finance Advisor (Infographic)
Help For Victims Of Mayur T. Dalal
If you have lost funds because of misrepresentation, unsuitable investment, or unsuitable investment strategy from Mayur T. Dalal. Then you can take legal action and get justice. Fraud, Malpractice & dereliction of duty should not be taken lightly, especially in this industry. We highly suggest that you notify authorities or seek legal action if your financial advisor or brokerage firm fails to abide by FINRA’s rules are regulations.
Financial advisors are regulatory & legally obligated to suggest (recommend) the most suitable investments/investment strategies to their clients. Their suggestions should have their client’s best interests and should be appropriate for their client’s goals and needs. Similarly, the brokerage firm which hires financial advisors also has a regulatory & legal obligation to keep a close watch and supervise their Financial Advisors’ practices & behavior. They need to make sure that the financial advisor is not being manipulative or having an unreasonable bias towards certain investments. If the financial advisor and/or the brokerage firm breaches these duties, then the client/customer may be entitled to a full or partial recovery of their losses.
Financial advisors need to have the interest of their clients when giving suggestions related to investments and investment strategies. Reasonable basis suitability requires the advisor to do their best to analyze & identify the risks and rewards associated with their suggested investment and/or investment strategy.
