May 2020-Waco, TX
According to publicly available records of Michael Kamperman (CRD#2002603) , a former stockbroker who last worked for HD Vest Investment Services discloses a regulatory event, customer disputes and a tax lien.
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 2016050400401, alleged Kamperman was suspended for 18 months and fined $20,000 to resolve allegations that he made investment recommendations in the 401(k) and IRA retirement accounts of customers that were unsuitable based on the customer’s financial situation and needs, risk tolerance, investment experience and investment objectives. The customers suffered over $407,000 in trading losses as a result.
In June of 2016, in FIRNA case 16-01641, a Prospera Financial Services customer alleged that their accounts decreased in value, their investments were not suitable, were over concentrated and that they were not informed of the risk associated with their investments. Breach of fiduciary duties and contract were also alleged. The case was settled for $320,000.
In February 2016, the IRS filed an $81,000 tax lien in McLennan County, Texas against Kamperman.
Kamperman was employed with HD Vest Investment Services from December 2014 until June of 2017. Before that he was Prospera Financial Services, Inc. and UBS Financial Services, Inc.
If you had an account with Michael Kamperman 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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