Michael Benn, formerly of Cetera Financial Specialists, Barred by FINRA
Have you lost money with financial advisor Michael Benn of Cicero, New York? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Michael J. Benn. FINRA barred Benn after he failed to respond to an investigation regarding allegations that he failed to timely remit funds obtained through payroll deductions into IRAs of at least two employees of his accounting firm.
Michael Benn was a financial advisor and registered representative of Cetera Financial Specialists from September 2004 to January 2017. He worked at a branch office in Cicero, New York. Benn was discharged by Cetera Financial Specialists for the same alleged conduct. He operated an accounting firm called Benn and Company.
Brokerage firms like Cetera Financial Specialists have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms 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 and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout New York. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Benn, Michael FINRA AWC
Click to view: Benn, Michael BrokerCheck 2.14.17
IF YOU LOST MONEY WITH MICHAEL BENN OR CETERA FINANCIAL SPECIALISTS, PLEASE CONTACT US AT (720) 599-3505 FOR A FREE EVALUATION OF YOUR CASE.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.