Micah Patterson, previously with MML Investors Services, Suspended by FINRA
Have you lost money with financial advisor Micah Patterson? We are looking into allegations made about Micah W. Patterson from Centerville, Utah. FINRA (the Financial Industry Regulatory Authority) suspended Patterson from the securities industry for one month and fined him $5,000. FINRA was investigating Patterson after he allegedly did not disclose private securities transactions. Patterson has been alleged to have sold investments in Future Income Payments (FIP), and investors have suffered significant losses in FIP.
Micah Patterson was a financial advisor and registered representative of MML Investors Services from August 2014 to June 2017. He was also affiliated with Hornor Townsend & Kent from June 2017 to June 2020. He worked in branch offices in Centerville and Layton, Utah.
Brokerage firms like MML Investors Services and Hornor Townsend & Kent 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; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including Utah. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against MML Investors Services.