The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Partho Ghosh. According to his publicly available FINRA BrokerCheck report, Partho Ghosh is the subject of a pending FINRA sanction.

Partho Ghosh was a New York based securities broker. He worked in the securities industry for ten years. During his career, he was registered with six different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Salomon Brothers (1989-1991)
  • CS First Boston Corporation (1991-1993)
  • Donaldson, Lufkin & Jenrette Securities Corporation (1994-1995)
  • Marsh & McLennan Securities Corporation (2002-2003)
  • MMC Securities Corp (2003-2007)
  • NyLife Securities (2016)

The Allegations

Partho Ghosh’s publicly available FINRA BrokerCheck report shows that he was recently sanctioned by FINRA in September 2018. The findings in this matter state that Ghosh allegedly did not provide his member firm with prior written notice that he was engaging in outside business activities. This sanction is currently pending.

What Does This Mean?

Securities brokers are not allowed to engage in private business ventures without first disclosing their involvement to their member firm. This is because private business dealings can often create significant conflicts of interest for securities brokers. Brokers who engage in these activities might find themselves soliciting funds from their member firm customers to invest in securities that might not be suitable for them. Securities firms are supposed to prevent this type of thing from taking place and thus require their brokers to disclose the extent of their involvement before they engage in the activity. However, the broker failing to disclose this information does not free the broker-dealer from liability. This is because securities firms are supposed to have procedures in place designed to monitor their registered brokers and prevent them from engaging in any unauthorized activities.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Partho Ghosh, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.