In April, 2013, FINRA filed a complaint against broker David Mickelson, alleging that he established and operated the Micro Pipe Fund. Mickelson owned Micro Pipe Capital Management, LLC, and Mickelson Investment Management, LLC, which managed the fund. FINRA alleges that David Mickelson solicited investments in the fund and was in violation of FINRA rules which require a broker to obtain his firm's permission to sell investments that are not sold by the firm. It is alleged that David Mickelson did not disclose to NFP Securities that he was involved with the fund and did not obtain its required authorization. This is called "selling away." In violation of the FINRA rules, Mickelson allegedly raised $8.3 million for the fund. Mickelson was registered with NFP Securities, Inc., March, 2004 until May, 2011 at Oceanside, California.
If you invested in the Micro Pipe Fund with David Mickelson you may be able to recover your losses. Soreide Law Group, PLLC, represents clients nationwide before FINRA. Call for a free consultation with an attorney at 888-760-6552.
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