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Sara Qazi: FINRA Suspends Raymond James Advisor
Beverly Hills financial advisor Sara Qazi (CRD# 4118177) was recently sanctioned and suspended in connection with allegations she improperly participated in a private securities transaction. Financial Industry Regulatory Authority records show that she is registered as a broker and an investment advisor with Raymond James & Associates, having previously been registered with Morgan Stanley.
Ms. Qazi’s BrokerCheck report discloses the FINRA sanction against her. Filed in November 2023, it states that she did not provide her member firm with prior notification, or receive its approval, before participating in a private securities transaction. As FINRA found, the transaction in question involved a firm customer who “purchased $250,000 of preferred stock in a healthcare company.” Ms. Qazi allegedly participated by conducting due diligence on the company and arranging “calls with its management and other investors.” She also allegedly “facilitated the customer’s investment in the healthcare company by assisting with the execution of agreements related to the transaction and arranging the wire transfer of the customer’s funds to it,” according to FINRA.
FINRA’s findings state additionally that Ms. Qazi did not receive any compensation for her involvement in the transaction, and that a presentation from the company that she distributed to investors “did not disclose any of the risks.” Similarly, FINRA found, a financial model she distributed to a customer included financial forecasts but omitted disclosures of “any risks, limitations, or conditions that could impede the achievement of such forecasts.” In connection with these findings, FINRA ordered her to pay a fine of $15,000 and suspended her from registering with any member firm in any capacity for three months.
A second disclosure on Ms. Qazi’s BrokerCheck report concerns her resignation from Morgan Stanley. Filed in 2021, it states that she was “permitted to resign” in connection with allegations involving her participation in an unapproved outside business activity. “The activity did not result in any client complaints,” the disclosure notes.
According to the Financial Industry Regulatory Authority, Sara Qazi holds 21 years of securities industry experience. Based in Beverly Hills, California, she has been a broker and an investment advisor with Raymond James & Associates since 2021. Her registration history includes Morgan Stanley (Beverly Hills, California; 2009-2021), UBS Financial Services (Century City, California; 2006-2009), Credit Suisse First Boston (New York, New York; 2003-2004), and Donaldson Lufkin & Jenrette Securities Corporation (Jersey City, New Jersey; 2000-2003). Her credentials included the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. She is licensed in California, Colorado, Connecticut, Illinois, Indiana, Maryland, Minnesota, New Mexico, New York, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, and Wisconsin. (Information current as of January 18, 2024.)
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