Investors have reportedly disputed the sales practices of securities broker Michael Laine [CRD: 1244072, El Segundo, California], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Michael Laine worked for LPL Financial LLC from September 8, 2009, to May 5, 2026, before registering with Purshe Kaplan Sterling Investments and PKS Advisory Services LLC on April 10, 2026. Investors should continue reading to discover more about disclosures involving Michael Laine.
Specifically, a client filed a complaint about Michael Laine. Mainly, the client alleged that Laine failed to follow instructions by not verbally confirming withdrawals with the client. For this reason, the client allegedly incurred damages on stocks. Therefore, on December 6, 2025 LPL Financial LLC settled this matter by paying the client $105,500.
Particularly, a client of Associated Securities Corp. contested Michael Laine’s sales practices by filing NASD Arbitration No. 96-01536. Allegedly, Laine made misrepresentations and failed to supervise certain representatives in connection with the client’s account. It appears that Laine allegedly caused the client to experience damages. As a result Associated Securities Corp. agreed to settle the matter on August 15, 1996, by compensating the client.
Do you have questions or concerns regarding investments you made with Michael Laine? Get in touch with Soreide Law Group at (888) 760-6552 or online and consult with a securities attorney regarding a possible recovery of your investment losses. Soreide Law Group has recovered losses for individuals throughout the US. Also, our securities lawyers handle cases on a contingency fee arrangement and advance all costs. Laine and brokerage firms Laine worked for deny accusations of sales practice violations.
Cowen and Company, LLC (CRD 7616), now part of TD Securities (USA) LLC, is a brokerage firm based in New York, New York. FINRA censured and fined the firm a total of $80,000, of which $40,000 is payable to FINRA, according to an AWC issued August 19, 2026.
Webull Financial LLC (CRD 289063) is a brokerage firm based in New York, New York. FINRA censured and fined the firm $115,000 after finding it maintained inaccurate books and records of options order origin codes, according to an AWC issued August 17, 2026.
Marc Miller (CRD 1133692) is a registered representative with Western International Securities. According to BrokerCheck, a customer filed a claim against him on March 3, 2025 that remains pending.
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