According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Michael Guilfoyle, a registered representative with Legend Securities, allegedly violated securities laws. Between October 2014 through April 2016, Guilfoyle allegedly engaged in unsuitable, excessive trading. Specifically, in the accounts of two customers, one of whom was elderly. This is against securities laws, and internal firm rules. For this misconduct, he was fined $10,000 and suspended for 10 months.
According to his online, FINRA BrokerCheck report, Mr. Guilfoyle was previously registered with JP Turner & Co., Gunnallen Financial, Mercer Capital, Brookstone Securities, Newbridge Securities Corp, Global Arena Capital Corp, America’s Choice Equities, Joseph Gunnar, Legend Securities in New York, New York from August 2013 until May 2016, IFS Securities and Four Points Capital Partners in New York from September 2016 until March 2017. He has two customer disputes against him, and one criminal pending charge. He is not currently registered as a broker.
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