Michael Lawrence is the Subject of a New Investor Dispute

Michael Lawrence (CRD #: 4225910), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on August 22, 2024. Keep reading if you have questions.

Investor Allegations 

On July 10, 2024, an investor alleged that Michael Lawrence failed to act in their best interest. The investor is seeking $350,000. 

There is another dispute dated June 19, 2024, that alleges a failure to supervise. The investor sought $166,000 but the dispute was denied. 

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Failure to Supervise 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. Their systems of supervision should be able to catch unsuitable recommendations. 

Background Information 

Michael Lawrence has passed the following exams: 

• Series 66 – Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 3 National Commodity Futures Examination 
• Series 31 Futures Managed Funds Examination 
• Series 7 General Securities Representative Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 

He is a registered broker in 50 states, Puerto Rico, D.C., and the Virgin Islands. He is also a registered investment adviser in Minnesota, Missouri, and Texas. 

Kurta Law Can Help 

If you worked with Michael Lawrence and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.