Michael Koletar, Portland TX, Broker Fined/ Suspended by FINRA

Michael Koletar, Portland TX, Broker Fined/ Suspended by FINRA 150 150 Rex Securities Law

By Robert H. Rex, Esq. 

In March 2014 the Financial Industry Regulatory Authority fined Portland, Texas, broker Michael Charles Koletar $5,000 and suspended him for 30 days. 

These sanctions were imposed to resolve FINRA allegations that he effected discretionary transactions in customer accounts without obtaining the customer’s prior written authorization and without his member firm’s acceptance of the accounts as discretionary. The findings stated that the firm allowed use of discretion only in managed accounts and certain family brokerage accounts with prior written approval. 

According to FINRA records Koletar is not currently registered . His previous registration history includes:

10/2012-2/2014 LPL Financial
6/2000-9/2012 Wells Fargo Advisors

If you have questions about the way your brokerage account has been handled, call to speak with an experienced securities attorney. 

Nationwide representation.

561 391 1900

This site is protected by wp-copyrightpro.com

%d bloggers like this: