Investigating Potential Claims – Hector May – Securities America
The White Law Group is investigating potential claims involving former financial advisor Hector May and his former employer, Securities America. If you are concerned about investments you made with Hector May, The White Law Group may be able to help you.
According to the Financial Industry Regulatory Authority (FINRA), New York financial advisor Hector May is under investigation by the US Department of Justice.
May, a former Securities America financial advisor, is reportedly facing a federal criminal investigation after the firm fired him on March 9, over allegations of misappropriation of client assets.
According to May’s FINRA BrokerCheck report, the Department of Justice is “conducting an official criminal investigation of a suspected felony.”
According to an article in Financial-Planning, “the scope and nature of the investigation were not immediately clear, but allegations of misuse of client money often result in fraud charges. “
Failure to Supervise
The White Law Group is investigating potential claims involving the liability that Securities America may have for failing to properly supervise Hector May.
Brokerage firms have a legal responsibility to adequately supervise the business activities of their employees. If a broker engages in a scheme that misleads clients the brokerage firm that employs them may be liable for negligent supervision.
When brokers make unsuitable investment recommendations or squander client funds, the brokerage firm that employs them may be liable for failure to supervise and responsible for investment losses.
If you were a client of Hector May and Securities America and suffered losses, The White Law Group may be able to help you by filing a FINRA arbitration claim. For a free consultation with a securities attorney call 888-637-5510.
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, visit www.whitesecuritieslaw.com.