FINRA Fines Michelle Wu

Soreide Law Group is investigating possible investor claims against securities broker Michelle Liao Wu [CRD: 3046373, San Jose, California]. Notably, FINRA sanctioned the securities broker, who worked for Principal Securities, concerning discretionary trading. Here is a brief summary of FINRA’s allegations against Wu.

Wu Sanctioned By FINRA For Discretionary Trading

Evidently, on June 16, 2023, FINRA issued Case: Acceptance, Waiver, and Consent No. 2022074969501 sanctioning Michelle Wu for infractions. Wu, without confirming or refuting the claims, agreed to the disciplinary sanctions, including a $5,000.00 fine and a suspension from all registration capacities. She acknowledged the regulator’s findings that she executed discretionary trades in her clients' accounts without having their written permission. The report highlighted that these specific clients did not give Wu any prior written approval to carry out such discretionary trading on their behalf. Additionally, Wu's affiliated institution had clear guidelines against its representatives using discretion in client accounts unless under exceptional conditions. Supposedly, these conditions were not met in this instance.

Employment Information

Michelle Wu worked for Principal Securities as a securities broker from February 2002 to May 2022.

Did Principal Securities Broker Michelle Wu Cause You To Experience Damages?

Have you experienced damages because of Michelle Wu? If so, get in touch with Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, who has successfully recovered money for investors throughout the United States, represents clients on a contingency fee basis and advances all costs. Wu and brokerage firms Wu worked for deny any and all allegations of sales practice violations.