Narinder Singh (Narinder Kaur Singh CRD:# 3100308, aka “Narinder Dutt”) is a previously registered broker whose last known employer was Farmers Financial Solutions, LLC (CRD#:103863) of Sacramento, CA. Her previous employers include Proequities, Inc. (CRD#:15708), Transamerica Financial Advisors, Inc (CRD#:16164) and Oneamerica Securities, Inc. (CRD#:4173), all of Elk Grove, CA. She has been in the industry since 1998.
FINRA’s investigation began in October of 2019 after both Transamerica and Proequities filed Form U5 amendments indicating that there was a pending arbitration filed by a customer alleging that Singh invested their funds into a fraudulent investment. Farmers’ then terminated Singh’s registration with a Form U5 filed on November 6, 2019.
Singh initially cooperated with the FINRA investigation, but on August 18, she indicated in a phone call with FINRA staff that she would not provide on-the-record testimony at any time. Therefore, FINRA barred Singh indefinitely as of 8/28/2020.
FINRA issued an indefinite suspension against Singh on October 27, 2020. This action was issued for failing to comply with the previous arbitration against her, which led to awards totaling $622,929.21 in favor of the claimants and her former employer, ProEquities. The sum includes fees for filings, for hearings, member fees, and a fee for one discovery-related motion filed by Singh. As of October 27, she is suspended indefinitely until the arbitration awards are completely paid.
Two customer disputes filed on 4/29/2020 allege that Singh solicited both clients into investment contracts away from the firm, known as “selling away.” The first client requested damages of $75,000, and the claim was settled for $45,357.28. The second client requested damages of $50,000, and the claim was settled for $29,642.72.
Another customer dispute filed on 9/26/2019 alleges that Singh “induced” them to invest into two investment contracts with Singh’s company, Express Asset and Wealth Management. The clients made two investments. The first was $300,000, and the second was $112,500, totaling $412,500. The amount of requested damages is $1,237,500.00, and this case is currently “pending.”
Have You Invested With Narinder Singh?
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