Washington

S-17-2258-19-SC01 - Thomson Financial Advisors LLC; Lindsay Thomson; and Brendan Shaw - Statement of Charges On March 12, 2019, the Securities Division entered a Statement of Charges and Notice of Intent to Enter Order to Cease and Desist, To Deny Future Registrations, to Impose Fines, and to Charge Costs ("Statement of Charges") against Thomson Financial Advisors LLC, Lindsay Thomson, and Brendan Shaw (collectively, "Respondents"). The Securities Division alleges that Respondents violated RCW 21.20.702 and RCW 21.20.020 when they placed a Washington State investor in unsuitable investments related to options trading. Further, the Securities Division alleges that Respondents violated RCW 21.20.020 when they failed to disclose to a Washington State investor the speculative and high-risk nature of their options trading strategy. The Statement of Charges gives notice to Respondents of the Securities Division's intent to enter an order to cease and desist from violating the Securities Act of Washington, to deny any future securities registration applications that Respondents may file in the future, to impose fines, and to charge costs. Respondents have a right to request a hearing on the Statement of Charges.

Order

Bar (Permanent)

All capacities

Permanent

4/11/2019

Cease and Desist

Civil and Administrative Penalty(ies)/Fine(s)

$60,000.00

Monetary Penalty other than Fines

Fraudulent, unsuitable and excessive trading in client's advisory accounts at an unaffiliated RIA firm.

$400,000.00

Fraudulent and excessive trading in brokerage accounts held at TD Ameritrade and managed by Thomson Financial Advisors LLC, an investment advisory firm with which Mr. Shaw was associated.

$7,500,000.00

Claimants allege churning, lack of proper supervision, unsuitable investments and use of manipulative, deceptive, and fraudulent actions to induce claimants to open line of credit.

$1,109,814.14

UBS FINANCIAL SERVICES INC.

Discharged

ON DECEMBER 9, 2005, MR.SHAW'S EMPLOYMENT WAS TERMINATED AFTER THE FIRM LEARNED THAT HE HAD DELIVERED TO THE SPOUSE OF A RECENTLY TERMINATED FINANCIAL ADVISOR DOCUMENTS CONTAINING CONFIDENTIAL FINANCIAL INFORMATION PROVIDED TO THE FIRM BY POTENTIAL CLIENTS.

ON DECEMBER 9, 2005, MR. SHAW'S EMPLOYMENT WAS TERMINATED AFTER THE FIRM LEARNED THAT HE HAD DELIVERED TO THE SPOUSE OF A RECENTLY TERMINATED FINANCIAL ADVISOR DOCUMENTS FROM MR. SHAW'S PERSONAL FILES THAT CONSISTED OF FINANCIAL INFORMATION PROVIDED TO MR. SHAW AND THE FORMER FINANCIAL ADVISOR BY MR. SHAW'S PERSONAL CONTACTS, AND WHICH MR. SHAW BELIEVED WERE GOING TO BE MISAPPROPRIATED OR MISUSED BY THE FIRM.