Attention Michele Fane Customers: Investor Files $2.4M Complaint

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Updated on: February 17, 2023

Investment Losses with Michele Fane? Contact KlaymanToskes

National investment fraud lawyers KlaymanToskes is investigating Michele Fane (CRD# 858728) following an investor complaint alleging $2.4 million in investor damages for failure to supervise.

Michele Fane’s FINRA BrokerCheck shows she currently registered as a stockbroker with the following six firms:

  • Cadaret, Grant, & Co., Inc. in Syracuse, NY (located at 100 Madison Street).
  • Cuso Financial Services, L.P. in San Diego, CA (located at 10150 Meanley Drive).
  • Next Financial Group, Inc. in Houston, TX (located at 11740 Katy Freeway).
  • SCF Securities, Inc. in Fresno, CA (located at 155 E Shaw Avenue).
  • Sorrento Pacific Financial, LLC in San Diego, CA (located at 10150 Meanley Drive)
  • Western International Securities, Inc. in Pasadena, CA (located at 70 S Lake Ave. Ste.)

Investors that suffered losses with Michele Fane at any of the firms listed above are encouraged to contact attorney Lawrence L. Klayman, Esq. at 888-997-9956, or lklayman@klaymantoskes.com to discuss recovery options.

Michele Fane’s $2.4M Investor Complaint for Failure to Supervise

According to FINRA BrokerCheck, Michele Fane has one pending investor complaint, filed in October 2022, alleging failure to supervise and investor damages of $2,453,936.28. Fane has one additional public disclosure of a bankruptcy in 2014.

FINRA Rule 3110 (Supervision) requires that brokerage firms establish and maintain supervisory systems to detect and prevent violations of any securities rules and regulations. Written supervisory procedures (“WSPs”) must be established and enforced to supervise the activities of the firm’s registered financial professionals. When a supervisor or manager fails to reasonably supervise another representative under their leadership, that individual may become responsible for failure to supervise.

A failure to supervise complaint generally requires four components:

  1. A securities law violation,
  2. Association of the registered representative or other person who committed the violation,
  3. Supervisory jurisdiction over that individual, and
  4. Failure of the brokerage firm and/or supervisory personnel to reasonably supervise the individual who violated the securities laws.

How Can I Recover My Losses?

If you suffered investment losses with Michele Fane and/or any financial professional at Cadaret Grant, you are encouraged to contact Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com to discuss recovery options.

KlaymanToskes works on a contingency basis, meaning we do not collect attorney’s fees unless we obtain a financial recovery for you.

About KlaymanToskes

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 over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.


KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.