Churning, Other Allegations Made Against Broker Michael Doyle

After 7 complaints and millions in settlements, Doyle is suspended by FINRA

According to a FINRA BrokerCheck report, Michael Doyle has received complaints from seven clients and was suspended for failing to comply with an arbitration award and to respond to the FINRA’s request to provide information concerning the status of compliance.

The complaints against Doyle date back to March of 1998 when a customer alleged that her account was churned in relation to stock option trades. In addition to this complaint, numerous others would continue to be made against Doyle over the 17 years that followed.

His history in the industry includes working most recently for Sanctuary Securities in Mill Valley, California. He was also previously employed with UBS Financial Services in San Francisco, Citigroup Global Markets in Menlo Park and Merrill Lynch, Pierce, Fenner & Smith in New York, New York.

Among the allegations against him are negligence and breach of contract, misrepresentation and erroneous information provided, unsuitable investments, over-concentrated asset allocation, misrepresentation of liquidity, unauthorized trades and failure to execute sell order requests. The damages awarded as a result of these and other allegations against him are in excess of $2 million.

If you have lost money as a result of dealings with Michael Doyle or are interested in learning more about the allegations against him, FINRA’s BrokerCheck provides all the details and is a complimentary report available to the public. You can use it to get information about any registered broker or financial firm.

If you suspect that your stockbroker has been involved in any wrongdoings as it relates to your relationship with him/her, or if you have lost money as a result of dealing with your broker, it’s recommended that you seek the services of an experienced securities attorney.

The attorneys at Silver Law Group are industry leaders in the field of FINRA and securities arbitration, representing individual and institutional investors across the United States who have lost money at the hands of trusted financial advisors. Our services are on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. Contact us today for a complimentary consultation.