Michael Magill, formerly with Foreside Fund Services, Barred by FINRA
Have you lost money with financial advisor Michael Magill? We are looking into allegations made about Michael E. Magill from Boca Raton, Florida. FINRA (the Financial Industry Regulatory Authority) barred Michael Magill from the securities industry. FINRA alleged that Michael Magill engaged in private securities transactions without disclosing them to his former brokerage firm, Foreside Fund Services. Magill was alleged to have sold $700,000 in promissory notes to customers that were not legitimate investments.
Michael Magill was a financial advisor and registered representative of Foreside Fund Services from August 2017 to January 2019. He worked in a branch office in Boca Raton, Florida.
Brokerage firms like Foreside Fund Services 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 Phoenix, Arizona; Seattle, Washington; Denver, Colorado; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including throughout Florida. Our attorneys have represented over one thousand investors against many brokerage firms in the past.