November 2020- Louisville, KY
According to publicly available records Michael Mountjoy (CRD#4421573), an unregistered broker who last worked for LPL Financial, discloses a regulatory event and a termination from employment.
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 May 2020, FINRA case #2018060881501 alleged the Mountjoy participated in private securities transactions without providing prior written notice to his member firm. The findings stated that he solicited investors consisting of friends and business associates to invest in a minor league professional soccer team based in Louisville, KY. He solicited a total of $378,000 in investments from four individuals. Sanctions imposed were a six month suspension and a $10,000 fine.
In November 2018, Mountjoy was discharged from employment from LPL Financial after allegations that he violated the Firm’s outside business activity and private securities transaction policy.
Mountjoy worked for LPL FInanical from 7/2010-12/2018 when he was discharged for engaging in outside business transactions not authorized by his firm. He also discloses a business affiliation with MWM Advisory Services and Meritrust Wealth Management .
If you had an account with Michael Mountjoy that suffered losses, you may be entitled to collect damages from his prior employer. Call to discuss your options.
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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