MICHAEL DAWSON Misrepresent Your Investments?

The Financial Industry Regulatory Authority (“FINRA”) reports troubling allegations against Deutsche Bank Securities broker Michael Dawson (CRD#: 62907, Houston, Texas). Notably, an investor filed a complaint involving the broker, who worked at Deutsche Bank from August 30, 2013 to December 22, 2015. Here’s more about the investor’s claim which suggests Michael Dawson sold unsuitable and misrepresented investments:

Investor Brings Arbitration Claim Alleging Michael Dawson Sold Unsuitable, Misrepresented Investments

 

A client who held accounts at Deutsche Bank Securities and UBS Financial Services Inc. filed FINRA Arbitration #:18-03289 on September 28, 2018. Namely, the client stated that Michael Dawson made bad investment recommendations. Those recommendations concerned master limited partnership investments (explained below).

Also, the client claimed that Michael Dawson failed to diversify the client’s portfolio. This suggests that  Dawson concentrated too much of the client’s assets in the MLP product(s), which caused the client’s losses. Not only that, but the client claimed that Dawson misrepresented the investments. Supposedly, this caused the client to agree to the investment transaction when the client wouldn’t have otherwise. Because of this, the client demanded $2,617,056.02 in damages. Apparently, this FINRA Arbitration, which the client brought against Deutsche Bank and UBS, is ongoing.

What Are Master Limited Partnerships (MLPs)?

Master limited partnerships (MLPs) are publicly traded partnerships that are meant to provide investors with favorable tax treatment while providing liquidity. Commonly, these investments focus on exploration, mining, development, transportation, or processing of natural resources. However, one typical risk of MLPs is that they focus on one particular sector of the market. So, for example, if an MLP concentrates in the energy sector and oil prices shift, this could generate substantial losses. Michael Dawson possibly sold the investor a risky MLP in the energy sector which led the client to incur a loss.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Currently, Dawson works at UBS in Houston, Texas. Have you suffered losses by investing with Michael Dawson? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery. The firm represents clients on a contingency fee basis and advances all costs. Soreide Law Group has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.