{"id":10075,"date":"2021-07-07T16:06:10","date_gmt":"2021-07-07T20:06:10","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=10075"},"modified":"2021-07-07T16:06:10","modified_gmt":"2021-07-07T20:06:10","slug":"finra-bars-broker-dustin-shafer-after-investigating-loan-to-client","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-bars-broker-dustin-shafer-after-investigating-loan-to-client\/","title":{"rendered":"FINRA Bars Broker Dustin Shafer After Investigating Loan To Client"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10076 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/07\/Dustin-Shafer.jpg\" alt=\"Dustin Shafer (Dustin Paul Shafer CRD# 34198962) is a former registered broker and investment advisor who was registered most recently with Newbridge Securities Corporation from 2019-2020, but spent the previous decade of his career with Money Concepts Capital Corp in Springfield, Illinois. Shafer worked in the brokerage industry since 2000.  Dustin Shafer Discharged From Newbridge Securities  In November 2020, Shafer was discharged from Newbridge. According to Shafer\u2019s BrokerCheck Report, published by the Financial Industry Regulatory Authority (FINRA), Shafer\u2019s discharge stemmed from allegations that he \u201cborrowed money from an existing client without firm pre-approval, in contradiction of firm policies.\u201d  Allegations That Shafer Borrowed From Clients Leads To Regulatory Sanctions  First, in December 2020, Shafer was investigated by the Illinois Securities Department for allegations that while employed by Newbridge and Money Concepts, he \u201cborrowed over $55,000 from one of his elderly clients\u201d in violations of Illinois securities laws.\u00a0 For this alleged misconduct, the state issued a permanent bar.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/07\/Dustin-Shafer.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/07\/Dustin-Shafer-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Dustin Shafer (Dustin Paul Shafer CRD# <a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/4198962\" target=\"_blank\">34198962<\/a>) is a former registered broker and investment advisor who was registered most recently with Newbridge Securities Corporation from 2019-2020, but spent the previous decade of his career with Money Concepts Capital Corp in Springfield, Illinois. Shafer worked in the brokerage industry since 2000. <a href=\"https:\/\/www.silverlaw.com\/blog\/finra-bars-broker-dustin-shafer-after-investigating-loan-to-client\/#more-10075\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dustin Shafer (Dustin Paul Shafer CRD# 34198962) is a former registered broker and investment advisor who was registered most recently with Newbridge Securities Corporation from 2019-2020, but spent the previous decade of his career with Money Concepts Capital Corp in Springfield, Illinois. Shafer worked in the brokerage industry since 2000. Continue reading \u203a<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[577,580],"tags":[],"class_list":["post-10075","post","type-post","status-publish","format-standard","hentry","category-finra-disciplinary-actions","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FINRA Bars Broker Dustin Shafer After Investigating Loan To Client &#8212;<\/title>\n<meta name=\"description\" content=\"Dustin Shafer is a former registered broker and investment advisor who was registered most recently with Newbridge Securities Corporation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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