MICHAEL DENNIS HERGERT is currently employed as a Broker and/or Investment Adviser at PRINCIPAL SECURITIES, INC. located at 5665 MEADOWS RD, STE 350, LAKE OSWEGO, OR, 97035.
MICHAEL DENNIS HERGERT has worked at PRINCIPAL SECURITIES, INC. since February 03, 2015
Disclosure History
MICHAEL DENNIS HERGERT has 2 Disclosure Event(s).
Date: November 12, 2002 Category: Customer Dispute Allegations: MR. HERGERT ALLEGEDLY TOOK ADVANTAGE OF THE CLIENT'S LACK OF SOPHISTICATION IN INVESTMENT MATTERS. CLIENTS SEEK REIMBURSEMENT FOR LOSSES ALLEGEDLY INCURRED AS A RESULT OF MR HERGERT'S NEGLIGENT FINANCIAL PLANNING, MISMANAGEMENT OF THE CLIENT'S RETIREMENT ASSETS, AND BREACHES OF FIDUCIARY DUTY. Damage Amount Requested: $225,000.00
Date: September 05, 1984 Category: Regulatory Initiated By: OREGON Allegations: SEE ITEM #13 Resolution: Decision SanctionDetails: Sanctions: Suspension Sanction Details: THE COMMISSIONER ORDEREDTHAT RESPONDENT'S SECURITIES LICENSE BE SUSPENDED FOR THREEMONTHS. Broker Comment: MICHAEL D. HERGERT WAS INVOLVED IN SELLING ASECURITY WHICH WAS NOT REGISTERED WITH THE STATE OF OREGON.HERGERT STATED THAT HE WAS UNAWARE OF THE INVESTIGATION WITHTHE STATE OF OREGON AND THEIR RESPONSES TO HIM LED HIM TOCONCLUDE THAT THE PARTICULAR TRANSACTIONS WERE WITHIN THE SCOPEOF NON-REGISTRATION. AS A RESULT OF THE SALES THE STATE OFOREGON SUSPENDED HERGERT'S SECURITIES LICENSE FOR 90 DAYSEFFECTIVE 9/5/84. ADDITIONAL INFORMATION REGARDING THE OREGON SUSPENSION. ALTHOUGH HERGERT'S LICENSE WAS SUSPENDED FOR NINETY DAYS, HE HAS NOT BEEN FOUND TOBE THE CAUSE OF ACTION. FRAUD WAS COMMITTED IN AREAS WHERE HE HAD NO CONTROL OR KNOWLEDGE. AS A RESULT MONEY WAS LOST, THE LAWSUIT WAS FILED, THE STATE OF OREGON INVESTIGATED AND SUBSEQUENTLY MADE A RULING IN HIS CASE.
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