Mitchell Morrison Fined, Suspended By FINRA For Selling Away

Investors might have sustained losses because of securities broker Mitchell Steven Morrison (also known as Mitch Morrison) [CRD: 728484, Newport Beach, California], according to disclosures on FINRA BrokerCheck. Evidently, Morrison worked for Westpark Capital Inc. from August 31, 2020, to July 1, 2022, and from August 14, 2017, to February 20, 2019. He also worked for Skyway Capital Markets LLC from February 4, 2019, to September 14, 2020. Continue reading to learn more about Morrison's disclosures.

FINRA Sanctioned Morrison For Private Securities Transactions

Specifically, on December 22, 2023, FINRA issued Case: 2021070397401 sanctioning Mitchell Morrison. FINRA alleged that Morrison participated in private securities transactions that raised $462,500 without providing prior written notice to WestPark Capital Inc.

Supposedly, Morrison, along with another individual, created a financial technology company, Company A, serving as its President and Chief Executive Officer. While he disclosed his involvement with Company A to both of his firms as an outside business activity, he failed to notify either firm in writing of his intentions to raise funds for Company A. Additionally, he allegedly did not seek their approval to sell membership interests in the company, which were securities sold under Regulation D of the Securities Act of 1933. Moreover, while working for WestPark, Morrison supposedly falsely denied participating in any private securities transactions in completed quarterly and annual compliance questionnaires.

The sanctions imposed on Morrison by FINRA included a fine of $5,000 and a suspension from all capacities for four months, starting from January 2, 2024, and ending on May 1, 2024.

Westpark Capital Inc. Terminated Mitchell Morrison For Unauthorized Business Activities

Also, on June 17, 2022, Westpark disaffiliated with Morrison. Evidently, the firm alleged that Morrison engaged in unauthorized outside business activities. Prior to the broker’s resignation, Morrison had agreed to an internal suspension beginning June 1, 2022, stemming from an investigation into his outside business activity with Eyeballs Financial, which was reportedly raising money despite assurances to the firm that it would not.

Investor Accused Morrison Of Misrepresentation

Particularly, a Financial West Group client filed FINRA Arbitration: 18-02519 about Mitchell Morrison. The client alleged that Morrison made misrepresentations concerning a private placement, leading to losses. This matter was settled on September 17, 2018, for $5,000.

Did You Sustain Losses Because Of Mitchell Morrison?

Did you experience losses because of Mitchell Morrison? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk to a securities lawyer about a possible recovery of your investment losses. Soreide Law Group has assisted hundreds of clients throughout the country, works on a contingency fee basis, and advances all costs. Morrison and brokerage firms he worked for deny accusations of sales practice violations.