Investor Alert: Michael Richard Mackay was barred from FINRA for failing to respond to FINRA’s request for documents and information.
/FINRA Sanctions & Allegations of Misconduct
According to his CRD Report, Michael Richard Mackay (CRD #2279775) of Transmerica Financial Advisors, Inc (CRD# 16164) in Liberty Township, Ohio, was barred from association with any FINRA member in all capacities and failed to respond to FINRA’s request for documents and information as a part of its investigation into allegations that he had referred customers to an outside real estate investment opportunity that his member firm had not approved.
Michael Mackay has other disclosures of wrongdoing reported on his regulatory file
The CRD Reports of Mike Mackay includes the disclosure of one pending customer complaint, two tax liens and at least one termination from a previous firm. These types of complaints or disclosures are serious red flags that evidence a pattern of unsuitable investment recommendations in order to generate commissions and income for themselves, at the expense of their clients.
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 Richard Mackay or Transmerica Financial Advisors, 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.