Narinder Kaur Singh

Date:

September 15, 2020

Type of alert:

FINRA AWC  

Narinder Kaur Singh, a former registered representative associated with Farmers Financial Solutions, LLC in Sacramento, California, recently consented to sanctions imposed in a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority’s Department of Enforcement.

Singh was associated with Farmers Financial Solutions (Farmers) from January 2018 to November 2019. She has been associated with three other member firms within the last ten years: OneAmerica Securities, Inc. (November 2007 – October 2014); Transamerica Financial Advisors, Inc. (November 2014 – August 2016); and Proequities, Inc. (July 2016 – December 2017). All firms are located in Elk Grove, California. In October 2019, Transamerica and Proequities filed Form U5 amendments that disclosed pending arbitration filed by a customer that alleged Singh had invested their funds into a fraudulent investment called Express Asset and Wealth Management, Inc., a company Singh controlled. These filings led to Singh’s termination from Farmers.

FINRA Department of Enforcement began investigating these allegations once receiving the Form U5 amendments and requested that Singh provide on-the-record testimony pursuant to FINRA Rule 8210. Singh refused to provide this testimony, thus violating FINRA Rules 8210 and 2010.

By signing the AWC and without admitting or denying the allegations made against her, Narinder Kaur Singh consented to a bar from associating with any FINRA member firm in any capacity.

Singh has numerous customer disputes logged in her FINRA BrokerCheck report alleging that she induced customers to invest into an investment contract with the company she controlled—Express Asset Wealth Management, Inc.

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