Sara Qazi: FINRA Suspends Raymond James Broker

Sara Qazi (CRD# 4118177[1]), a broker registered with Raymond James & Associates, participated in an unapproved private securities transaction, according to a disciplinary action. MDF Law is investigating the Beverly Hills-based financial professional for similar conduct. We encourage investors with concerns about their accounts to contact us as soon as possible.

Details regarding the allegations against Ms. Qazi can be found in this post. The information below is sourced from her BrokerCheck profile, a Financial Industry Regulatory Authority (FINRA) record accessed on December 26, 2023. 

FINRA Suspends Sara Qazi over Private Securities Transaction

FINRA sanctioned Ms. Qazi on November 20, 2023. According to a Letter of Acceptance, Waiver, and Consent (# 2021070719701[2]), she participated in a private securities transaction in 2020 without notifying Morgan Stanley or receiving its approval. The private transaction involved a $250,000 investment in a healthcare company. After the transaction’s completion, she allegedly “distributed a written presentation prepared” by the healthcare company to five people, one of whom was a Morgan Stanley customer. “The presentation did not disclose any of the risks associated with an investment in [the company’s] private offering,” according to FINRA’s findings. She also allegedly provided a firm customer with a financial model prepared by the company. While the model “contained financial forecasts,” per FINRA, it “did not disclose any risks, limitations, or conditions that could impede the achievement of such forecasts.”

The AWC Letter proceeds to describe Ms. Qazi’s alleged participation in the transaction. As alleged, she performed due diligence on the healthcare company at a customer’s request, then facilitated the investment itself. This included her assistance with the execution of agreements, per FINRA, and “arranging the wire transfer of the customer’s funds.” The findings state that she did not receive any compensation for her involvement in the transaction.

Disciplinary Action Alleges Rule Violations

As FINRA alleged, Ms. Qazi’s conduct violated several FINRA rules, including:

• Rule 3280(b), which prohibits brokers from participating in private securities transactions without providing prior written notice to their member firm. This notification must “describ[e] in detail the proposed transaction and the person’s proposed role therein.”
• Rule 2010, under which brokers must “observe high standards of commercial honor and just and equitable principles of trade” in the conduct of their business.

Based on these findings, FINRA fined Ms. Qazi $15,000 and suspended her for three months. Her suspension commenced on December 18, 2023 and will lift on March 17, 2024. 

FINRA: Qazi Based in Beverly Hills

Sara Qazi began her career as a broker in 2000, when she registered with Donaldsun Lufkin & Jenrette Securities in Jersey City. Over the following years, she worked at firms including Credit Suisse and UBS Financial Services. She worked at Morgan Stanley’s branch office in Beverly Hills, California, from 2009 until her resignation in 2021. Since then, she has worked at Raymond James & Associates’ office in Beverly Hills. 

Investment Complaint? Call MDF Law

If you lost money on investments recommended by Sara Qazi, call MDF Law for a free consultation. You may be eligible to file a FINRA arbitration claim and recover losses. Our firm, which has recovered more than $100 million for the victims of broker fraud[3], accepts cases on contingency: clients only pay a fee if they win. Call 800-767-8040 to chat with an attorney today today.