Goodman & Nekvasil P.A., May Recover Investor Losses – Monte Kim Miron (Monte Miron) Permitted to Resign from MML Investors Services, LLC and Barred from Securities Industry
From 2012 until Monte Miron’s resignation in 2013, Monte Miron was licensed with MML Investors Services, LLC. Monte Miron was previously licensed with AXA Advisors, LLC. According to FINRA’s records, Monte Miron was permitted to resign from MML Investors Services, LLC on February 6, 2013. MML Investors Services, LLC reported to FINRA that Monte Miron was permitted to resign in connection with an internal review into allegations of potential undisclosed solicited transactions, unapproved discretionary trading, excessive trading and alleged failure to disclose a customer complaint.
Subsequent to Monte Miron’s termination by MML Investors Services, LLC, FINRA investigated Monte Miron and brought a disciplinary action against Monte Miron. Monte Miron was barred from the securities and investment banking industry by the Financial Industry Regulatory Authority (FINRA) on March 7, 2014. FINRA reports that Monte Miron consented to the sanction and to the entry of findings that Monte Miron made unauthorized trades in the accounts of Monte Miron’s member firm’s customers. The findings stated that Monte Miron did not obtain written authorization to make these trades prior to executing them, and the firm did not allow registered representatives to have control, either formally or informally, over client accounts. The findings also stated that Monte Miron mismarked the unauthorized trades as unsolicited. By not properly marking the trades n question as solicited, Monte Miron caused the Firm’s books and records to be inaccurate. The findings also included that Monte Miron was the subject of credit compromises that required reporting on Monte Miron’s Form U4 within the appropriate 30-day time period after learning of the facts and circumstances giving rise to the amendment. In each instance, Monte Miron willfully failed to timely update Monte Miron’s Form U4 by disclosing the credit compromise no later than 30 days after learning of the facts and circumstances.
FINRA reports that 3 complaints were filed involving Monte Miron’s conduct with AXA Advisors LLC and/or MML Investors Services, LLC, alleging misrepresentation, excessive trading, and/or manipulating accounts for own financial gain. These complaints all settled.
If you lost any money on investments with Monte Miron, you may be able to recover your losses from MML Investors Services, LLC and/or AXA Advisors, LLC. This is because MML Investors Services, LLC and AXA Advisors, LLC had a duty to supervise Monte Miron.
If you lost money on investments with Monte Miron 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 against MML Investors Services, LLC and/or AXA Advisors, LLC concerning Monte Miron’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 $300 million on behalf of victimized investors. If you lost money on investments with Monte Miron 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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