According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Jay Shah (Shah) has been subject to five customer complaints. Shah is currently registered with National Securities Corporation (National Securities). In May 2017 a customer filed a complaint alleging a number of securities law violations including that the broker engaged in churning (excessive trading), material misrepresentations and omissions, and unsuitable recommendations, among other claims. The claim alleged $213,085 in damages and is currently pending.
In August 2015 another customer complained that Shah rendered poor investment advice claiming $100,000 in damages. The claim was closed. In March 2012 another customer claimed that Shah engaged in unauthorized trading in the customer’s account The claim was closed.