Michael Grande Facing FINRA Complaint

Soreide Law Group is investigating potential investor claims of sales practice violations possibly committed by securities broker Michael Charles Grande [CRD: 1219255, Fort Lauderdale, Florida], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Michael Grande worked for Newbridge Securities Corporation from November 18, 2005, to May 31, 2022. Continue reading to learn more about Grande's disclosures and the implications for investors.

FINRA Charged Grande With Failure To Provide Information

Particularly, on November 13, 2023, FINRA initiated Case: 2018060128401 against Michael Grande. FINRA alleged that Grande failed to provide information requested by FINRA for its investigation into the suitability of his recommendations in mutual funds. As a result, FINRA intends to sanction Grande.

FINRA's investigation into Michael Grande centered on his advisory practices, particularly his recommendations concerning short-term mutual fund trades. According to FINRA, this began with two formal requests for information sent to Grande in November 2023. These requests supposedly were part of a probe into whether Grande’s investment recommendations from July 2017 to May 2022 were appropriate for his clients.

Despite receiving these requests, Grande allegedly did not provide the necessary documents by the deadlines. His continued non-compliance, including not returning multiple phone calls or asking for extensions, led to complications in the investigation, FINRA indicated.

FINRA Alleged Violation Of Rule 8210 By Michael Grande

By failing to respond, FINRA alleged that Grande violated FINRA Rules 8210 and 2010, which require cooperation in regulatory inquiries. He reportedly hindered FINRA's ability to assess the suitability of his recommended mutual fund transactions.

Did You Sustain Losses Because Of Grande?

Suffered losses because of any sales practice violation by financial advisor / securities broker Michael Grande? If you have, get in touch with Soreide Law Group online or at (888) 760-6552 so you can talk to a securities lawyer about your legal options. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Grande and brokerage firms he worked for deny any allegations of sales practice violations.