Michael Carter, formerly with Foresters Equity Services, Suspended from Securities Industry
Have you lost money with financial advisor Michael Carter of Foresters Equity in Henderson, Nevada? The law firm of Israels & Neuman is looking into allegations made by FINRA (the Financial Industry Regulatory Authority) against Michael Lester Carter. FINRA suspended Carter from the securities industry for two months and fined $5,000. Carter was being investigated regarding allegations that he sold $25,000 in investments in the Woodbridge Group of Companies.
Last year, Woodbridge filed for bankruptcy, and investors will likely suffer substantial losses. This is at least the third former Foresters Equity Services representatives who has been punished by regulators for selling Woodbridge investments.
Michael Carter was a registered representative and financial advisor with Foresters Equity Services from December 2013 to July 2017. He worked out of a branch office in Henderson, Nevada. He also owned Carter Investment Services in Las Vegas.
Broker-dealers like Foresters Equity Services have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Nevada and the Las Vegas area. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Carter, Michael BrokerCheck
Click to view: Carter, Michael FINRA AWC
If you have lost money with Michael Carter and Foresters Equity Services, and want to hear about ALL legal options, please visit https://www.israelsneuman.com/ or call us at 720-599-3505.
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