May 2018-Scottsdale, AZ
The FINRA records of Wayne I. Miller , a stockbroker who formerly worked for Accelerated Capital Group disclose a pending regulatory suspension, a pending customer dispute and 2 prior customer disputes.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In January 2018, Miller was suspended by FINRA from acting in a principal capacity for six months (1/02/2018-7/1/2018) and fined $10,000 to resolve allegations that he failed to reasonably supervise the chief compliance officer of his former firm, Accelerated Capital Group. As a result of his failed oversight a broker excessively traded mutual funds and made unauthorized trades.
In FINRA case 16-1433, Miller was named as a control person. The customer of Accelerated Capital Group alleged breach of finduciary duty, violation of California securities laws and other claims and sought damages of $130,000. The case was settled for $110,000.
In FINRA Case 15-3471, Miller was named as a control person of Accelerated Capital Group. The customer alleged unauthorized trading and excessive trading (churning) and sought damages of $200,000. The case was settled for $165,000.
In pending FINRA Case 17-01178 a customer of Accelerated Capital Group alleges over concentration, misrepresentation, failure to supervise and other claims and seeks damages of $340,000.
Wayne Miller was employed by Accelerated Capital Group from 4/2010-2/2018. He is currently employed by AEON Capital in Scottsdale.
If you have losses in an account in an account handled by Wayne Miller , call for a no charge consultation with an experienced securities attorney to learn how you may be able to recover damages.
Accelerated Capital Group Regulatory Issue
Accelerated Capital Group is headquartered in Costa Mesa, CA. The firm has been a FINRA member since March 1997 and has about 35 brokers in 6 branch offices, the largest of which are located in Irvine, CA, and Scottsdale, AZ.
In a currently pending FINRA regulatory matter, regulators allege that Accelerated Capital Group failed to properly monitor, through their written supervisory procedures (WSPs) and supervisory system, mutual fund switches and exchanges and failed to respond to red flags of broker misconduct.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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