{"id":10289,"date":"2021-11-30T12:15:30","date_gmt":"2021-11-30T17:15:30","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=10289"},"modified":"2021-11-30T12:15:30","modified_gmt":"2021-11-30T17:15:30","slug":"finra-suspends-aegis-capital-broker-kishan-parikh-over-churning","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-aegis-capital-broker-kishan-parikh-over-churning\/","title":{"rendered":"FINRA Suspends Aegis Capital Broker Kishan Parikh Over Excessive Trading"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10290 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/11\/Kishan-Parikh.jpg\" alt=\"Kishan Parikh (CRD#:5506554, aka \u201cSean Parikh\u201d) is a previously registered broker whose last employer was Aegis Capital Corp. (CRD#:15007) of New York, NY. His previous employer was Max International Broker\/Dealer Corp. (CRD#:46039), also of New York City, was expelled by FINRA on 1\/29\/2013. He has been in the industry since 2008.  FINRA\u2019s Department of Enforcement filed a complaint against Parikh alleging unsuitable recommendations and excessive trading that led to over $33,000 in losses while generating considerable commissions, including $89,000 for himself. Although none of the accounts were discretionary accounts, Parikh traded as if they were. Therefore, he had de facto control over all his customer accounts.  Parikh recommended active short-term trading to these customers with the use of a margin. He failed to consider the costs associated with this type of trading, nor the interest use cost associated with using the margin. This allowed him to trade more often but at a higher cost to the customers. Kishan Parikh also executed trades for two of his customers that had a total principal value of $4.2 million, and that he did not call the customers on the date of the trades.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/11\/Kishan-Parikh.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/11\/Kishan-Parikh-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Kishan Parikh (<a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/5506554\" target=\"_blank\">CRD#:5506554<\/a>, aka \u201cSean Parikh\u201d) is a previously registered broker whose last employer was Aegis Capital Corp. (CRD#:15007) of New York, NY. His previous employer was Max International Broker\/Dealer Corp. (CRD#:46039), also of New York City, was expelled by FINRA on 1\/29\/2013. He has been in the industry since 2008. <a href=\"https:\/\/www.silverlaw.com\/blog\/finra-suspends-aegis-capital-broker-kishan-parikh-over-churning\/#more-10289\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kishan Parikh (CRD#:5506554, aka \u201cSean Parikh\u201d) is a previously registered broker whose last employer was Aegis Capital Corp. (CRD#:15007) of New York, NY. His previous employer was Max International Broker\/Dealer Corp. (CRD#:46039), also of New York City, was expelled by FINRA on 1\/29\/2013. He has been in the industry since 2008. 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":[589,580],"tags":[],"class_list":["post-10289","post","type-post","status-publish","format-standard","hentry","category-churning-2","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINRA Suspends Aegis Capital Broker Kishan Parikh Over Churning<\/title>\n<meta name=\"description\" content=\"Kishan Parikh is a previously registered broker whose last employer was Aegis Capital Corp. of New York, NY.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/finra-suspends-aegis-capital-broker-kishan-parikh-over-churning\/\" 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minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-aegis-capital-broker-kishan-parikh-over-churning\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-aegis-capital-broker-kishan-parikh-over-churning\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"FINRA Suspends Aegis Capital Broker Kishan Parikh Over Excessive 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