Date: December 28, 2009 Category: Customer Dispute Allegations: CLAIMANT, A NORTH CAROLINA RESIDENT, ALLEGES IN 2008 FA MISREPRESENTED MATERIAL FACTS CONCERNING THORNBURG MORTGAGE, INC. STOCK, WHICH WAS THEN PURCHASED. CLAIMANT IS SEEKING COMPENSATORY DAMAGES IN EXCESS OF $66,000. Damage Amount Requested: $66,000.00 Settlement Amount: $15,000.00 Broker Comment: THE CASE SETTLED FOR $15,000. RESPONDENTS DENIED ALL ALLEGATIONS OF WRONGDOING. BOTH TRADES FOR PURCHASE AND SALE WERE UNSOLICITED AND WERE NOT RECOMMENDED BY THE ADVISOR. COMPLAINT AROSE FROM CUSTOMER NOT UNDERSTANDING HOW A REVERSE SPLIT WORKS AND SOLD THINKING HE HAD A LARGE GAIN IN THE PRICE OF THE STOCK.
Date: April 08, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGES MISREPRESENTATION IN CONNECTION WITH A MUTUAL FUND INVESTMENT. Damage Amount Requested: $13,000.00 Settlement Amount: $10,662.48
Date: March 05, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT THE PURCHASE OF A VARIABLE ANNUITY WAS MISREPRESENTED. Damage Amount Requested: $6,184.55
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for Michael John Forster, click here.
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.
How to choose a broker or investment adviser. Learn More