Christopher Blumer Investigation
March 2023- New York, NY
The FINRA records of Michael Christopher Blumer, a former SW Financial broker who currently works for Spartan Capital Securities, disclose two pending and two 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 FINRA case#21-01256, a customer of Blumer’s prior employer, First Standard Financial Company, customer alleged that the following causes of action; breach of fiduciary duty; churning; fraud; manipulation; misrepresentation/non-disclosures; omission of facts; unauthorized trading; and negligence. The arbitration panel award to the customer was $48,600, all to be paid by Blumer individually.
In December of 2021, FINRA #21-02978 was filed by a SW Financial customer alleging negligence, unsuitable investments and breach of fiduciary duty with alleged damages of $45,405. The case is currently pending.
In 11/2022 a customer of SW Financial filed FINRA case 22-2586 alleging unsuitability, excessive trading and commissions, unauthorized trading and negligence. Damages of $117,150 are sought in this currently pending matter.
Blumer has been employed by Spartan Capital Securities since 2/2023. He was with SW Financial from 12/20192/2023.
If you have losses in an account handled by Christopher Blumer 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, at no cost to you.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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