FINRA suspends Michael Douglas Hanke (CRD #3158013, Tampa, Florida)
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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 13, 2018 – A Letter of Acceptance, Waiver and Consent (AWC) was issued in which Hanke was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for one month. Without admitting or denying the findings, Hanke consented to the sanctions and to the entry of findings that he executed discretionary transactions in a customer account without written authorization. The findings stated that although in some instances Hanke had express or implied authority from the customers (a husband and wife) to exercise discretion in their account, he did not obtain prior written authorization from the customers and his member firm did not accept the customers’ account as discretionary. The firm prohibited unapproved discretionary trading in customer accounts. The findings also stated that Hanke marked seven order tickets in the customers’ account as unsolicited when in fact the trades had been solicited, causing his firm to maintain inaccurate books and records. The suspension was in effect from March 19, 2018, through April 18, 2018. (FINRA Case #2015046918701). If you or someone you know has lost money investing with Michael Hanke, 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.