According to FINRA, Ali F. Chehab was named as a respondent in a complaint alleging he failed to provide information and documents requested during a FINRA investigation.

The investigation arose from allegations that Chehab engaged in sales practice violations including selling away, unauthorized trading, and making material misrepresentations to customers. Selling away refers to a registered representative selling securities outside the scope of their firm's business without the firm's knowledge or approval.

Chehab's alleged failure to provide requested information and documents impeded FINRA's investigation into his potential misconduct. FINRA stated that he deprived the regulator of materials that were material to its investigation.

This complaint represents FINRA's initiation of formal proceedings. The allegations have not been adjudicated, and no findings have been made.

Cooperation with regulatory investigations is a fundamental obligation of registered persons. When individuals fail to provide requested information, it prevents regulators from fully investigating potential misconduct and protecting investors.

For investors who dealt with Chehab, the underlying allegations of selling away, unauthorized trading, and material misrepresentations are serious concerns. Selling away is particularly risky because investments made outside firm channels typically lack the protections that come with firm oversight, including insurance coverage.

If you invested with Chehab in any securities that were not through his member firm's official channels, or if you believe trades were made in your account without authorization, consider consulting with a securities attorney about your options. You may also file a complaint with FINRA.