Amit Bhatia Investigation
March 2023-New York NY
According to publicly available records Amit Kumar Bhatia , a former broker who last worked for Raymond James, discloses a final regulatory matter.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 10/2022 FINRA suspended Bhatia from the industry for three months, beginning 10/2022, and fined him $5,000 to resolve allegations that he executed and issued purported letters of credit without authorization from his member firm. The findings stated that Bhatia signed two documents that purported to be letters of credit, and one amendment for each of these purported letters of credit, for a customer, totaling approximately $3 million in credit without his firm’s knowledge or authorization. the customer provided these letters of credit and amendments to a lender.
Bhatia was with with Raymond James from 7/2019-10/2020. Bhatia discloses business affiliations with Churchill Asset Management, Solar Capital and GSO Capital Partners.
If you have suffered losses in an account handled by Amit Kumar Bhatia, contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
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