Financial Advisor Michael P. Spolar, International Assets Advisory, Reportedly Suspended for 15 months
Are you concerned about investments made with Michael P. Spolar in Orlando, FL? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution Claim.
According to the Financial Industry Regulatory Authority (FINRA), financial advisor Michael P. Spolar has reportedly consented to the sanction of a fifteen month suspension from working in the securities industry.
According to a Letter of Acceptance, Waiver & Consent, in August and September 2017, Spolar allegedly exercised discretion without written authorization in effecting four securities trades.
In addition, in connection with three options securities trades, Spolar purportedly mismarked the trades as “unsolicited” and allegedly submitted falsified “Unsolicited Options Letter” forms to his employer member firm in connection with the trades.
According to his FINRA BrokerCheck report, Spolar was reportedly registered with International Assets Advisory in Orlando Florida from April 2015 until November 2017 when he was allegedly discharged because he “Contacted clients during suspension.”
Spolar reportedly has 14 customer complaints filed against him according to his broker report, with 3 currently pending. Allegations include unjust enrichment, breach of fiduciary duty, fraud, negligent supervision, failure to supervise, and violation of Ohio Securities act, among others.
For FINRA’s full findings see FINRA case number 2018057366101.
Potential Lawsuits to Recover Losses
The White Law Group is investigating potential lawsuits regarding the liability that his former employers may have for failure to properly supervise Spolar.
When brokers conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.
Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
We represent investors in FINRA arbitration claims in all 50 states, including Florida. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
If you are concerned about your investments with Michael P. Spolar, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.