National investment loss lawyers KlaymanToskes is investigating broker Michael Molinaro (CRD# 2358346) of Network 1 Financial Securities following his suspension from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”) due to the firm’s failure to establish, maintain, and enforce a supervisory system, including written supervisory procedures (“WSPs”), reasonably designed to achieve compliance with the suitability requirements of FINRA Rule 2111 and the SEC’s Regulation Best Interest.
According to FINRA BrokerCheck, broker Michael Molinaro has been registered with Network 1 Financial Securities since 2014 in Red Bank, NJ. FINRA’s decision comes after the firm’s WSPs reportedly designated Molinaro as the principal responsible for developing supervisory procedures for Network 1. Molinaro is also facing two pending customer complaints alleging over $1 million in investor damages due to suitability, churning, unauthorized trading, and fraud.
Investors that suffered losses with broker Michael Molinaro are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national investment loss law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The article linked below contains important information related to KlaymanToskes’ investigations of broker Michael Molinaro:
If you suffered losses with broker Michael Molinaro, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million* for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
*Exclusive of attorneys fees and costs.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Michael Molinaro. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
According to FINRA, brokerage firms such as Network 1 Financial Securities are responsible for the supervision of all of the activities of their registered brokers/financial advisors. Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their broker/advisor made unsuitable investment recommendations.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Michael Molinaro, or have concerns regarding your investment portfolio at Network 1 Financial Securities, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.