Galvin Legal is launching an investigation on behalf of investors who may have suffered losses investing money with Hector May. If you suffered losses investing with Hector May, then Galvin Legal may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
Hector May (CRD# 323779)
As of March 27, 2018, Hector May’s FINRA BrokerCheck Report contains the following:
According to Hector May’s publicly available FINRA BrokerCheck Reports, on March 9, 2018, Hector May was terminated by Securities America, Inc. after allegations of “misappropriation of client assets” were made. In addition, on March 8, 2018, the day before his termination, Securities America disclosed on Hector May’s Form U-4 that the U.S. Department of Justice is conducting an official investigation into Hector May of a suspected felony. The fact that the U.S. Department of Justice investigation suggests that misappropriation of clients’ asset may not be an isolated incident.
Some investors know that FINRA’s BrokerCheck reports contain helpful information about the background of financial advisers. Most do not know, however, that the information in BrokerCheck reports come from a regulatory database that FINRA shares with state and federal securities regulators. FINRA omits certain important information from the BrokerCheck reports that it makes publicly available, but makes the information available to some state securities regulators, such as Florida’s.
For example, Hector May’s report from Florida states that Securities America is conducting an internal investigation about May’s alleged misappropriation of client assets. This information is omitted from May’s FINRA’s Brokercheck report. For your convenience, Hector May’s comprehensive report from Florida is attached.
Given that Securities America is actively conducting its own investigation, it is safe to assume that Securities America will be trying to collect evidence from investor victims to try to protect itself in lawsuits. Investor victims need to retain an attorney immediately to protect their claims against Securities America.
Prior to his termination from Securities America on March 9, 2018, Hector May had been in the securities industry for approximately 44 years. His history of registrations with FINRA member firm’s is listed below.
Current and Previous Registrations
SECURITIES AMERICA, INC. (CRD# 10205) 08/25/1998 – 03/16/2018
SECURITIES AMERICA, INC. (CRD# 10205) 07/29/1994 – 06/30/1998
PRIME CAPITAL SERVICES, INC. (CRD# 18334) 12/09/1980 – 11/24/1994
EQUICO SECURITIES, INC. (CRD #6627) 10/20/1980 – 11/24/1992
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (CRD# 4039) 06/12/1973 – 11/24/1992
FINRA requires brokerage firms like Securities America to supervise all registered representatives, including Hector May. Brokerage firms that fail to adequately supervise their financial advisers can be held responsible for the customer’s losses in a FINRA arbitration claim. If you believe that you were a victim of Hector May and Securities America, we recommend that you contact an attorney experienced in securities arbitration disputes immediately. Also, we recommend that you communicate with the firm through an attorney so that you do not create evidence that could harm your chances of recovering your money. Unsuspecting investor victims commonly attempt to first complain on their own and they inadvertently make a statement verbally or in writing to brokerage firms that unnecessarily harms the ultimate case. If would like a free consultation with a securities arbitration attorney, then please call Galvin Legal at 1-800-405-5117.
Galvin Legal is a national securities arbitration, mediation, fraud, and investor protection law practice. For more information on Galvin Legal, call 1-800-405-5117.