March, 2025 | Based in Irvine, CA
If you’ve suffered financial losses while working with financial advisor Sanjay Mathur, don’t wait to take action. Call 800-950-6553 or complete our online form to schedule your no-obligation case evaluation today. Your financial future may depend on swift action.
Critical Information About Sanjay Mathur
- Full Name: Sanjay Mathur
- CRD Number: 1144243
- Current Location: Irvine, CA
- Current Employer: RBC Capital Markets, LLC
- Office Address: 400 Spectrum Center Drive, Suite 200, Irvine, CA 92618
- Registration Status: Currently registered with 22 Self-Regulatory Organizations and licensed in 16 U.S. states and territories
- State Licenses: Arizona, California, Delaware, Florida, Illinois, Kansas, Minnesota, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, Texas, Virginia, Washington
- Experience: In the industry since 1983 (over 40 years)
- FINRA BrokerCheck: Six customer disputes and one employment termination
- Previous Employers: Wells Fargo Clearing Services, LLC (2012-2024), Morgan Stanley Smith Barney (2009-2012), Morgan Stanley & Co. Incorporated (2007-2009), Morgan Stanley (1998-2007), Morgan Stanley DW Inc. (1997-2007), Prudential Securities (1994-1997), PaineWebber (1990-1994), Lehman Brothers (1983-1990)
- Ability to Recover Losses: Potential FINRA arbitration eligibility for transactions within the past six years
The Disturbing Pattern of Customer Complaints Against Sanjay Mathur
Our securities fraud law firm is currently investigating allegations against financial advisor Sanjay Mathur (CRD# 1144243), who recently moved to RBC Capital Markets after a lengthy tenure at Wells Fargo Clearing Services. With over 40 years of industry experience, Mathur’s record shows a concerning pattern of customer complaints alleging misconduct, including unauthorized trading, excessive trading (churning), and unsuitable investment recommendations.
The ongoing investigation aims to determine whether Mathur violated securities regulations and industry standards, potentially harming investors who trusted him with their financial futures. Multiple settlements already paid to former clients raise serious questions about his conduct and the supervision provided by his employing firms.
If you’ve worked with Sanjay Mathur and experienced unexpected losses or noticed suspicious activity in your accounts, you may be entitled to recover your investment losses through FINRA arbitration. Our experienced securities attorneys are ready to evaluate your case at no cost.
Detailed Analysis of Allegations Against Sanjay Mathur
FINRA BrokerCheck records reveal multiple complaints against Mathur over his career, with several resulting in significant monetary settlements. The most troubling patterns include:
1. Unauthorized Trading
In 2008, a client alleged that Mathur made unauthorized purchases of Fannie Mae and Citigroup stock. While Mathur denied the allegations, Morgan Stanley settled the complaint for $3,159.76 as a “business accommodation.”
More significantly, Mathur’s employment with Morgan Stanley Smith Barney ended in 2012 following allegations that he “exercised time and price discretionary trading in client accounts without proper written authorization.” This type of conduct represents a serious violation of securities regulations, which require advisors to obtain specific authorization before executing trades unless formal discretionary authority has been properly documented.
2. Excessive Trading (Churning)
In November 2015, a client filed a complaint alleging excessive trading and fees in their account between April 2012 and November 2015. This practice, known as “churning,” occurs when a broker executes excessive transactions in a customer’s account primarily to generate commissions rather than to benefit the customer. Wells Fargo settled this complaint for $45,000 without admitting liability.
3. Unsuitable Investment Recommendations
Multiple complaints against Mathur have centered on allegations of unsuitable investment recommendations:
- In September 2016, a client filed an arbitration claim alleging unsuitable investments from May 2011 to April 2012. This complaint was settled for $15,000.
- Another arbitration was filed in 2017 alleging unsuitable investment recommendations in accounts opened around 2012. This case resulted in a $30,000 settlement.
- More recently, clients have alleged that Mathur recommended high-risk foreign securities despite their age and retirement timeline, demonstrating a potential pattern of disregard for client risk tolerance and investment objectives.
Red Flags for Investors: How to Identify Potential Misconduct
When reviewing your investment accounts, be alert for these warning signs that may indicate broker misconduct:
Unauthorized Trading
- Transactions appearing in your account that you don’t recognize
- Securities purchased or sold without your explicit approval
- Verbal rather than written confirmation of trades
- Pressure to approve trades after they’ve already been executed
Excessive Trading (Churning)
- Unusually high transaction costs or commission charges
- Frequent buying and selling of securities without clear justification
- Short holding periods for investments
- Account statements showing constant portfolio turnover
- Declining account value despite market gains due to fee erosion
Unsuitable Investments
- Investments that don’t align with your stated risk tolerance
- Complex products that weren’t fully explained
- Concentration in high-risk securities despite conservative objectives
- Recommendations that ignore your age, retirement timeline, or financial situation
- Foreign securities or specialized investments with risk factors you don’t understand
Other Warning Signs
- Reluctance to provide clear explanations about investment strategies
- Difficulty obtaining complete account information
- Pressure to move investments between firms
- Undisclosed conflicts of interest
- Promises of guaranteed returns or “can’t miss” opportunities
The Legal and Regulatory Framework
Financial advisors like Sanjay Mathur operate under strict regulatory requirements designed to protect investors:
FINRA Rule 2010: Standards of Commercial Honor and Principles of Trade
This foundational rule requires brokers to observe high standards of commercial honor and just and equitable principles of trade. Unauthorized trading and churning directly violate these standards.
FINRA Rule 2111: Suitability
The suitability rule requires that a broker have a reasonable basis to believe a recommended transaction or investment strategy is suitable for the customer based on the customer’s investment profile. The complaints against Mathur suggest potential violations of this critical protection.
FINRA Rule 3260: Discretionary Accounts
This rule explicitly prohibits brokers from exercising discretion in a customer’s account unless the customer has given prior written authorization and the account has been accepted as discretionary by the firm. Mathur’s employment termination involved allegations of violating this rule.
FINRA Rule 2020: Use of Manipulative, Deceptive or Other Fraudulent Devices
This anti-fraud provision forbids brokers from employing any manipulative, deceptive, or fraudulent device to effect any transaction or induce the purchase or sale of any security.
FINRA Rule 3110: Supervision
This rule requires brokerage firms to establish and maintain a system to supervise the activities of their registered representatives. Questions remain about the adequacy of supervision at Mathur’s employing firms.
Steps for Affected Investors
If you’ve invested with Sanjay Mathur and are concerned about potential misconduct, take these important steps:
1. Gather and Review All Account Documentation
Collect all account statements, trade confirmations, correspondence, and notes from meetings or phone calls with Mathur. Look for unusual trading patterns, unexpected losses, or transactions you don’t recall authorizing.
2. Calculate Your Losses
Determine the extent of your actual losses, including both direct investment losses and excessive fees or commissions paid.
3. Act Promptly
Be aware that FINRA arbitration claims generally must be filed within six years of the event giving rise to the claim. Delaying action could jeopardize your right to recovery.
4. Consult with a Securities Attorney
An experienced securities fraud attorney can evaluate your case, determine if you have grounds for a claim, and guide you through the recovery process.
5. File a FINRA Arbitration Claim
If appropriate, your attorney can help you file a claim through FINRA’s arbitration system, the primary forum for resolving disputes between investors and brokers.
How Our Securities Fraud Attorneys Can Help You Recover Your Losses
Our law firm specializes in representing investors who have suffered losses due to broker misconduct. When handling investment fraud cases involving financial advisors like Sanjay Mathur, we provide:
Comprehensive Case Evaluation
Our experienced attorneys will thoroughly review your account statements, correspondence, and other documentation to identify potential violations and calculate recoverable losses.
Expert Forensic Analysis
We work with financial experts to conduct a detailed forensic analysis of your accounts, identifying excessive trading patterns, unsuitable investments, unauthorized transactions, and other forms of misconduct.
Representation in FINRA Arbitration
Our skilled litigators will represent you throughout the FINRA arbitration process, from filing the initial claim to presenting your case before the arbitration panel.
Contingency Fee Structure
We handle investment fraud cases on a contingency fee basis, meaning you pay no legal fees unless we recover money for you. There’s no financial risk to seeking justice.
Recovery of Various Damages
We pursue recovery of actual investment losses, excessive fees and commissions, market-adjusted damages (what your portfolio should have earned), and potentially punitive damages in cases of egregious misconduct.
The time to act is now. If you’ve experienced losses while working with Sanjay Mathur or other financial advisors at RBC Capital Markets or Wells Fargo, don’t hesitate to reach out for a confidential consultation. Call 800-950-6553 today or submit our secure online form to start the process of recovering your investment losses. Our team of dedicated investment fraud attorneys stands ready to fight for the compensation you deserve.
