Securities Broker Mike Farrell (Aegis Capital Corp) Accused Of Sales Practice Violations

The Financial Industry Regulatory Authority (FINRA) has new disclosures on BrokerCheck regarding securities broker Michael James Farrell (“Mike Farrell”) (CRD#: 2282842, Red Bank, New Jersey). Namely, Farrell, who worked as a securities broker for Aegis Capital Corp from August 2016 to May 2019, faces two investor disputes alleging sales practice violations. Here’s more about these disclosures about the securities broker, including what you could do if you incurred losses.

Mike Farrell’s Aegis Capital Corp Client Alleges Unsuitable Investment Recommendations

Evidently, a client of Aegis Capital Corp brought a FINRA Arbitration Claim about Mike Farrell. Mainly, the client contends in this April 2021 matter that Farrell made unsuitable investment recommendations between December 2012 and November 2020. Suitability generally concerns risk tolerance, investment objectives, financial status, and other information about the investor. It is not clear what the client invested in that allegedly resulted in damages. However, the client seeks $190,873.62 to resolve this ongoing dispute.

Farrell Accused Of Breach Of Fiduciary Duty To Aegis Capital Corp Client

Notably, a second client of Aegis Capital Corp came forward to contest Mike Farrell’s sales practices. First, the client alleged in this March 2020 dispute that Farrell made unsuitable transactions. Secondly, Farrell allegedly breached a contract. Finally, the client alleges a breach of fiduciary duty by the securities broker. For this reason, the client demands $23,393 in damages to resolve this ongoing matter.

Before working for Aegis Capital Corp, Mike Farrell worked for National Securities Corporation (Red Bank, New Jersey) and Newbridge Securities Corporation (New York, New York). He is not presently registered with a securities firm at this time.

Did You Lose Money By Investing Through Mike Farrell?

Did Mike Farrell cause you to incur investment losses? If so, call Soreide Law Group at (888) 760-6552 and speak with an experienced securities lawyer about a potential recovery. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered compensation for hundreds of United States investors who experienced damages from their financial advisors or securities brokers. Please note that Farrell denies all allegations of his sales practice violations.Lars Soreide AVVO 2020 Top Lawyer