Investor Alert: Michael Thomas Lee was fined $12,500 and suspended from FINRA for one year for outside business activities
/FINRA Sanctions & Allegations of Misconduct
According to his CRD Report, Michael Thomas Lee (CRD #4502893) of COMMONWEALTH FINANCIAL NETWORK (CRD #8032) in Darien, Connecticut was assessed a deferred fine of $12,500 and suspended from association with any FINRA member in all capacities for one year and consented to the sanctions and to the entry of findings that he engaged in an outside business activity, a prospective exchange traded fund (ETF), without providing prior written notice to his member firm. Additionally, Lee made false statements to the firm on annual compliance questionnaires concerning his use of an undisclosed email address to conduct a securities business. The suspension is in effect from August 5, 2019, through August 4, 2020.
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 losses 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 Thomas Lee or COMMONWEALTH FINANCIAL NETWORK, or KESTRA INVESTMENT SERVICES, LLC, 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.