National investment fraud lawyers KlaymanToskes is investigating Joseph Michael Todd (CRD# 1830390) after the previously registered broker was terminated from Centaurus Financial Inc. over allegations of selling away and the receipt of customer funds.
Todd was employed at Centaurus Financial’s Crystal River, FL branch at the time of his termination in July 2022. According to Todd’s Brokercheck Report, the firm’s investigation is ongoing and Todd has not cooperated with the investigation.
If you have suffered investment losses with Centaurus Financial Inc., Investors Capital Corp. and/or due to the mismanagement of your accounts by Joseph Michael Todd, contact attorney Lawrence L. Klayman at (888) 997-9956 or lklayman@klaymantoskes.com to discuss your recovery options.
Joseph Michael Todd’s FINRA Brokercheck further discloses three customer disputes:
“Selling away” in private securities transactions occurs when a broker or advisor sells an investment to a customer without approval from his/her broker firm with the expectation that they will be paid a “selling compensation”. FINRA Rule 3280 defines a private securities transaction as “any securities transaction outside the regular course or scope of an associated person’s employment with a member.”
When brokers deviate from their firm’s list of approved offerings and choose to offer clients unapproved securities, they are “selling away” from their firm and may be subject to FINRA sanctions. The brokerage firm may also be liable for their representative’s disclosed and undisclosed activities. FINRA-regulated brokers and advisors are required to disclose “outside business activities” to the regulator and their firms. Investors can review their broker’s “outside business activities” by using FINRA’s free Brokercheck tool.
If you suffered investment losses with Joseph Michael Todd at Centaurus Financial, you are encouraged to immediately contact KlaymanToskes at (888) 997-9956 for a free consultation to discuss your legal options.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered more than $250 million for investors in FINRA arbitrations and over $350 million in other securities litigation matters for its clients. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com