FINRA assessed a deferred fine of $35,000 and suspended Michael William Hajek III for 18 months

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Furgison Law Group investigates claims against Michael William Hajek, III

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The securities fraud lawyers at Furgison Law Group are currently investigating claims against Michael William Hajek, III, Cetera Financial Specialists, LLC and NFP Securities, Inc. The arbitration specialists at Furgison Law Group are investigating claims involving allegations of selling away, breach of fiduciary duty, failure to supervise, misrepresentations, omissions of material facts, conflict of interests, violations of state and federal securities laws, along with other broker misconduct.

FINRA fines and suspends Michael William Hajek, III

FINRA assessed a deferred fine of $35,000 and suspended Michael William Hajek III (CRD #3114385, Treasure Island, Florida) from association with any FINRA member in any capacity for 18 months. Hajek consented to the sanctions and to the entry of findings that he exceeded the scope of his member firms’ approval to conduct his Certified Public Accountant (CPA) business by assisting customers open and administer self-directed Individual Retirement Accounts (IRAs) away from the firms, and by recommending and facilitating customers’ investments in those accounts, some of which included securities. Hajek continued to engage in this business even after his firm directed him to cease. Hajek was also involved in other outside business activities that he was obligated to disclose to his firms in writing, as required by their WSPs, but failed to do so. The findings also stated that Hajek participated in private securities transactions effected in customers’ self-directed IRAs totaling more than $2.3 million. These private securities transactions were done away from his firms. Hajek was required to notify his firms in writing of his participation prior to participating in them, but failed to do so. The suspension is in effect from February 1, 2016, through July 31, 2017. (FINRA Case #2013037390801)

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered loses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages. 

Can I recover my investment losses?

If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Michael William Hajek, III, Cetera Financial Specialists, LLC or NFP Securities, Inc., please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.