← Broker database 2025-06-04
Durgesh Rajawat Suspended for Failure to Comply with Arbitration Award
According to FINRA, Durgesh Rajawat was suspended from association with any FINRA member firm for failure to comply with an arbitration award or related settlement pursuant to FINRA Rule Series 9554.
The suspension became effective on June 4, 2025. Rajawat was based in West Palm Beach, Florida and had CRD number 5801366. The matter involves FINRA Arbitration Case #24-02426.
FINRA Rule 9554 provides FINRA with the authority to suspend individuals who fail to pay arbitration awards, comply with settlements, or pay restitution. This enforcement mechanism is essential to ensuring that customers who prevail in arbitration actually receive the compensation they are owed.
When investors file arbitration claims and receive awards, they have already demonstrated that they were harmed and deserve compensation. Brokers who then fail to pay add insult to injury by forcing customers to pursue additional enforcement measures.
The suspension removes non-paying brokers from the industry, preventing them from continuing to work while obligations remain unpaid. This serves both as a sanction and as protection for future customers who might otherwise do business with someone who has shown unwillingness to honor financial obligations.
The suspension will remain in effect until Rajawat pays the award or reaches an acceptable arrangement regarding the obligation. Until then, he cannot associate with any FINRA member firm.
Investors are encouraged to use FINRA's BrokerCheck tool before working with any broker. BrokerCheck provides information about arbitration history, pending claims, unpaid awards, and disciplinary actions. This free resource can help investors identify potential concerns and make more informed decisions about their financial relationships.