Did you lose money investing with Michael Collins (CRD# 2915653)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Michael Collins. If you suffered losses investing with Michael Collins, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
As of April 19, 2020, Michael Collins’s FINRA BrokerCheck Report contains the following:
Not currently registered as broker
Disclosure Events
1 Customer Dispute(s)
1 Regulatory Event(s)
UPDATE 4/17/2020: According to FINRA’s January 2020 Disciplinary Actions: “Michael Jason Collins (CRD #2915653, Chicago, Illinois) November 18, 2019 – An AWC was issued in which Collins was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for five months. Without admitting or denying the findings, Collins consented to the sanctions and to the entry of findings that he participated in private securities transactions totaling approximately $200,000 without providing prior notice to his member firm. The findings stated that Collins solicited individuals to invest in membership units of a limited liability company organized to operate a new restaurant in Chicago, Illinois. Although the firm had approved Collins and his father’s own investment in the limited liability company, it prohibited Collins from soliciting any other investors. Despite this instruction, Collins participated in the sale of the membership interests by, among other things, introducing the investors to the business partners in the investment, discussing his own investments in the project with them and attending networking events with the investors where the investment was discussed. Some of the investors were also customers of the firm. The restaurant opened and then closed approximately nine months later. The findings also stated that Collins helped arrange for the limited liability company to repurchase the membership units from certain of the investors as part of a broader agreement. Collins also separately paid the investors who participated in the agreement the difference between their original investment and the amount they received pursuant to the agreement. Collins did not disclose his involvement in this arrangement to the firm. Prior to the events at issue here, the firm issued Collins a Letter of Education warning him that he could not participate in private securities transactions without authorization. The Letter of Education related to an instance where Collins forwarded to a firm customer an email relating to an outside investment in a separate restaurant. The findings also included that Collins failed to disclose the participation in the investments on annual compliance attestations.The suspension is in effect from November 18, 2019, through April 17, 2020. (FINRA Case #2017056104801)”
Current and Previous Registrations
11/02/2017 – 11/07/2019 KINGSBURY CAPITAL, INC. (CRD#:7638) EVANSTON, IL
10/15/2010 – 10/30/2017 ROBERT W. BAIRD & CO. INCORPORATED (CRD#:8158) CHICAGO, IL
06/01/2009 – 10/27/2010 MORGAN STANLEY SMITH BARNEY (CRD#:149777) CHICAGO, IL
04/02/2007 – 06/01/2009 MORGAN STANLEY & CO. INCORPORATED (CRD#:8209) CHICAGO, IL
04/08/2004 – 04/02/2007 MORGAN STANLEY DW INC. (CRD#:7556) CHICAGO, IL
11/18/1999 – 04/19/2004 CITIGROUP GLOBAL MARKETS INC. (CRD#:7059) NEW YORK, NY
FINRA requires brokerage firms to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. Brokerage firms that fail to conduct adequate due diligence or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses investing with Michael Collins and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
