Michael J. Petyak Investigation
March 2023- Canton, MS
According to publicly available records Michael J. Petyak, a broker currently employed by Calton & Associates, Inc., discloses a pending customer dispute.
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 FINRA case #22-00831, a customer of Petyak’s prior employer, Cambridge Investment Research, Inc., alleges that investment recommendations made by Petyak were made solely for the purpose of generating high commissions and fees and that claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio. The requested damage amount is unspecified and includes compensatory damages, statutory damages, interest, attorneys’ fees, punitive damages and any other relief available to the claimants. The case is still pending.
Petyak has been with Calton & Associates, Inc. since July 2017, before that time he was with Cambridge Investment Research Advisors, Inc. from August 2013 until July 2017. Petyak discloses business affiliations with Oakmont Financial Partners and Advisory Services Network.
If you have suffered losses in an account handled by Michael Petyak, contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
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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