Former Cuna Investment Services broker Michael Grant recently resigned from his former employer after allegations surfaced that he violated securities rules. According to the Financial Industry Regulatory Authority (FINRA), Mr. Grant is not affiliated with any broker-dealer. In October 2017, he was permitted to resign from his position at Cuna following allegations he violated firm policy as well as FINRA rules when he exercised discretion in customer accounts for which he lacked discretionary trading authority. A brokerage firm such as Cuna has a duty to reasonably supervise its employees to make sure that they do not violate securities laws. If the firm does not do so, it can be held liable for investment losses on a contingency fee basis, in the FINRA arbitration forum.
According to FINRA records, Mr. Grant was previously registered with Northwestern Mutual Investment Services in Tampa, Florida from June 2005 until January 2008, OneAmerica Securities in Tampa from January 2008 until November 2008 and Cuna Brokerage Services in Panama City, Florida from January 2009 until November 2017. He has three criminal final dispositions against him, and is not currently registered as a broker.
Disclaimer
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.
