MICHAEL KEITH MCDONOUGH

MICHAEL KEITH MCDONOUGH is currently employed as a Broker and/or Investment Adviser at PRINCIPAL SECURITIES, INC. located at 1070 Marina Village Pkwy, Ste 101B, Alameda, CA, 94501.

MICHAEL KEITH MCDONOUGH has worked at PRINCIPAL SECURITIES, INC. since October 04, 2010

Disclosure History

MICHAEL KEITH MCDONOUGH has 3 Disclosure Event(s).

Date: June 12, 2006
Category: Regulatory

Date: September 23, 1999
Category: Customer Dispute
Allegations: CUSTOMER ALLEGES UNAUTHORIZED TRADING IN OPTIONS CONTRACTS AND EQUITY SECURITIES.
Damage Amount Requested: $44,000.00
Settlement Amount: $14,000.00
Broker Comment: IT SHOULD BE NOTED THAT [CUSTOMER] DID HAVE A SIGNED OPTION AGREEMENT ON FILE. HE HAD VERBALLY AGREED TO SIGN A DISCRETIONARY TRADING AGREEMENT AND GAVE VERBAL APPROVAL FOR ME TO TRADE WITH DISCRETION IN HIS ACCOUNTS. HE THEN INTENTIONALLY DID NOT SIGN THE WRITTEN AUTHORIZATION WITHOUT INFORMING ME. I HAD RELIED HEAVILY ON MY FORMER ASSISTANT, WHO HAD ASSURED ME THAT THE AGREEMENT HAD BEEN RECEIVED. THE PAPERWORK DEFICIENCY WAS NOT REPORTED TO ME ON THE PERIODIC MISSING PAPERWORK NOTIFICATION FORM. THEREFORE, MY ACTIONS WERE TAKEN UNDER THE BELIEF THAT ALL REGULATIONS WERE BEING COMPLIED WITH. I DO NOT EXPECT TO BE HELD SOLELY RESPONSIBLE FOR THE WAY EVENTS TRANSPIRED.

Date: June 02, 1993
Category: Customer Dispute
Allegations: FRAUD, OMISSION OF MATERIAL FACTS, DECEIT,BREACH OF WRITTEN CONTRACT, BREACH OF FIDUCIARY DUTY ANDVIOLATIONS OF RULES 342, 401, AND 405. I HAD DIVERSIFIED MR. [CUSTOMER]ASSETS BETWEEN MUNICIPAL BONDS, A CONVERTIBLE BOND FUND AND STOCKS RECOMMENDED BY MY FIRM, (H.J.MEYERS). IT WAS H.J.MEYERS STOCK RECOMMENDATIONS THAT WERE ALLEGED TO BE UNSUITABLE FOR MR. [CUSTOMER]. Damages Granted: $10,150.00
Broker Comment: THE AWARD AMOUNT WAS $10,000 JOINTLY AND SEVERALLY. OTHER MONETARY RELIEF AWARDED, $150 JOINTLY AND SEVERALLY OF WHICH MR. MCDONOUGH PAID $5,000. MR. MCDONOUGH WAS EMPLOYED AT THOMAS JAMES ASSOCIATES, WHICH LATER MERGED WITH H.J. MEYERS.

More Information

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