Former Advisor Victor Michel Reportedly did not appear for testimony.
According to the Financial Industry Regulatory Authority, in June 2017, FINRA began an examination into possible sales practice violations committed by Victor Michel while he was registered with Financial West Group (FWG).
On July 12, 2017, FINRA staff sent a request to Michel for him to appear for on the-record testimony. Although it was scheduled for September 7, 2017, Michel reportedly did not appear for testimony. Consequently, FINRA has reportedly barred Michel from the securities industry.
Michel has been registered with three firms since November 2011, according to his BrokerCheck report. He worked for FWG in Reno, Nevada from January 2014 until February 2016 when he was reportedly discharged for “violation of firm policy regarding reporting and settling customer complaints”.
Prior to that, Michel worked for Securities America in Marina Del Rey, CA from September 2012 until January 2014. Victor Michel has 8 customer disputes listed on his Broker report. Allegations include churning of accounts, unsuitable recommendations, unauthorized trading, and failure to supervise, among others.
For FINRA’s full findings, see FINRA case number: 2017054755201.
The White Law Group is investigating the liability that Victor Michel’s employers may have for losses sustained by his clients. Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules. If it is determined that the broker dealer failed to supervise their agent, they can be held responsible for losses in a FINRA arbitration claim.
Are you concerned about your investment losses with Victor Michel? The attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, please visit www.whitesecuritieslaw.com.