Michael Seibert – Financial Advisor Michael Seibert Suspended from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Michael Seibert CRD #2004082
From 2002 until Michael Seibert’s discharge in 2013, Michael Seibert was licensed with Park Avenue Securities LLC. According to FINRA’s records, Michael Seibert was discharged from Park Avenue Securities LLC on March 21st, 2013. Park Avenue Securities LLC reported to FINRA that Michael Seibert was allegedly involved in unapproved outside business activities, in the sale of unapproved equity indexed annuities, and borrowing money from a customer in violation of firm policies and procedures.
Michael Seibert was subsequently licensed with Hornor, Townsend, & Kent, Inc. from 2013 until Michael Seibert’s resignation in 2015. According to FINRA’s records, Michael Seibert voluntarily resigned on March 9th, 2015. Hornor, Townsend, & Kent, Inc. reported to FINRA that Michael Seibert resigned after FINRA forwarded an unexecuted letter of acceptance, waiver and consent for resolution of charges.
FINRA investigated Michael Seibert and brought a disciplinary action against Michael Seibert. Michael Seibert was suspended for 10 months from the securities and investment banking industry and fined $20,000 on May 4th, 2015. FINRA reports that Michael Seibert consented to the sanctions and to the entry of findings that Michael Seibert sold to Michael Seibert’s member firm’s customers, Equity-Indexed Annuities (EIAs) that were not approved for sale by the firm and failed to notify the firm of this outside business activity. FINRA reports that Michael Seibert was involved and failed to disclose in many other outside business activities.
If you lost any money on investments with Michael Seibert, you may be able to recover your losses from Hornor, Townsend, & Kent, Inc. and/or Park Avenue Securities LLC. This is because Hornor, Townsend, & Kent, Inc. and Park Avenue Securities LLC had a duty to supervise Michael Seibert.
If you lost money on investments with Michael Seibert and believe that 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 against. 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.
Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Michael Seibert 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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