FINRA suspends Michael Anthony McGregor (CRD #2778819, Staten Island, New York)
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As reported in InvestmentNews, three Raymond James entities have agreed to pay over $15 million to resolve an investigation by the SEC. The settlement and SEC order focused on Raymond James’s actions in improperly charging certain clients advisory fees when the...read more
March 14, 2018 – A Letter of Acceptance, Waiver and Consent (AWC) was issued in which McGregor was fined $5,000, suspended from association with any FINRA member in all capacities for four months, and ordered to pay $14,266, plus interest, in restitution to a customer. Without admitting or denying the findings, McGregor consented to the sanctions and to the entry of findings that he engaged in quantitatively unsuitable trading in two accounts of a customer. The findings stated that the customer, who is now retired, had limited investment experience and conservative investment objectives. McGregor recommended the trading for the customer’s accounts, and the customer followed such recommendations and did not propose any trades of his own. Accordingly, McGregor had de facto control over the customer’s accounts. These accounts sustained a collective loss of $14,266. The suspension is in effect from March 19, 2018, through July 18, 2018. (FINRA Case #2016047619001). If you or someone you know has lost money investing with Michael McGregor, call the experienced attorneys at Epperson & Greenidge at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-445-9261 now to speak to an attorney for free.