Michael Reither, from St. Louis, Missouri, Subject of Complaint by Missouri Securities Division
Have you lost money with financial advisor Michael Earl Reither of St. Louis, Missouri? We are continuing our investigation into allegations made by the Missouri Securities Division against Michael E. Reither. Missouri seeks to punish Reither regarding allegations that he borrowed money from a customer while he was affiliated with First Allied Securities.
Michael Reither was a financial advisor and registered representative of First Allied Securities from 2008 to December 2017. He worked at a branch office in St. Louis, Missouri. Reither also filed for bankruptcy in 2007.
Brokerage firms like First Allied Securities 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; Seattle, Washington; Ann Arbor, Michigan; and Phoenix, Arizona. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Missouri. Our attorneys have represented over one thousand investors against many brokerage firms in the past.