Michael Lee, Financial Advisor Michael Lee Suspended from Securities Industry

Michael Lee, Financial Advisor Michael Lee Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses

Michael Lee CRD #4502893

Michael Lee was a formerly licensed financial advisor with Commonwealth Financial Network, Kestra Investment Services, LLC and Morgan Stanley. According to FINRA, Michael Lee was suspended from the securities industry for one year and fined $12,500 in July 2019. 

According to FINRA Allegations:

Michael Lee consented to the sanctions and to the entry of findings that Michael Lee engaged in an outside business activity, a prospective exchange-traded fund (ETF), without providing prior written notice to his member firm. The findings stated that Michael Lee distributed written materials to potential investors that contained inaccurate statements about the ETF. Michael Lee used his personal e-mail and an e-mail address associated with the ETF for his outside business activities that included soliciting potential investors and distributing written materials prepared by Michael Lee’s business partner. None of the individuals solicited by Michael Lee invested in the ETF. The written materials falsely represented that the ETF was a hybrid registered investment advisor with $20 million in assets under management, and that the firm’s affiliated registered investment advisor was sponsoring and providing certain administrative services to the ETF. Michael Lee also made false statements to the firm on two annual compliance questionnaires concerning his use of an undisclosed email address to conduct securities business.

Goodman & Nekvasil, P.A. May Recover Investor Losses:

If you lost money on investments with Michael Lee and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Michael Lee’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Michael Lee and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us. 

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