Michael Swingle, formerly with J.W. Cole Financial, Suspended 18 Months by FINRA
Have you lost money with financial advisor Michael Swingle of Clearwater, Florida? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Michael Terry Swingle. FINRA suspended Swingle from the securities industry for 18 months and fined him $5,000. FINRA was investigating Swingle for allegations that he solicited five customers to loan him $118,500. Generally, financial advisors cannot borrow money from their customers. It was alleged that Swingle was borrowing money to fund a gambling habit.
Michael Swingle was a financial advisor and registered representative of J.W. Cole Financial from 2007 to November 2016. He worked at a branch office in Clearwater, Florida. Swingle was also terminated by J.W. Cole Financial for this alleged conduct.
Brokerage firms like J.W. Cole Financial 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; Ann Arbor, Michigan; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Florida and the Tampa area. Attorney David Neuman is licensed to practice law in Florida. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Swingle, Michael FINRA AWC
Click to view: Swingle, Michael BrokerCheck 5.7.18
If you lost money with Michael Swingle or J.W. Cole Financial, 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.