WESTLAKE VILLAGE, CA
Have you lost money with financial advisor Megurditch Patatian of Western International Securities in Westlake Village, California? FINRA (the Financial Industry Regulatory Authority) filed a complaint against Megurditch Patatian, alleging that he sold unsuitable REITs to 59 customers. FINRA also alleged that he recommended unsuitable variable annuity exchanges or switches. FINRA alleged that Mike Patatian violated FINRA rules by making these unsuitable recommendations to invest in REIT (real estate investment trusts) and annuity exchanges.
Megurditch Patatian (Mike Patatian) was a registered representative of Western International Securities from April 2013 to April 2020. He is now affiliated with Supreme Alliance. He has worked at branch offices in Westlake Village, California. Patatian has been the subject of nine customer complaints.
Brokerage firms like Western International Securities 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 investors throughout California. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Western International Securities.