FINRA

Without admitting or denying the findings, Michel consented to the sanction and to the entry of findings that he refused to appear for FINRA on-the-record testimony in connection with an examination into possible sales practice violations committed by Michel while he was registered with his member firm.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

all capacities

indefinite

11/3/2017

FINRA

Without admitting or denying the findings, Michel consented to the sanctions and to the entry of findings that while associated with his member firm, he used his personal, non-firm email account to correspond with a firm customer concerning firm related business without the firm's knowledge or approval. The findings stated that Michel failed to cause the emails to be sent or directed to a firm email account, and he failed to retain copies of all of the emails in electronic or other form. As a result, by using a personal email account for securities business Michel's firm could not discharge its supervisory and recordkeeping obligations regarding electronic business correspondence. The findings also stated that Michel settled a customer complaint without providing notice of the complaint or settlement to his firm. Michel became aware that a customer of his was unhappy with commissions charged in the customer's account and to appease the customer and to reimburse the customer for commissions, Michel paid the customer by check without the firm's knowledge or consent.

Acceptance, Waiver & Consent(AWC)

Civil and Administrative Penalty(ies)/Fine(s)

$7,500.00

Suspension

any capacity

two months

8/1/2016

9/30/2016

Claimant alleges churning of accounts, unsuitable recommendations, unauthorized trading & purchase of penny stocks , failure to supervise Mr. Michel, and disregard for investment objectives & risk tolerance.

$55,000.00

$55,000.00

Financial West Group

Discharged

Violation of firm policy regarding reporting and settling customer complaints

CUSTOMER ALLEGES THAT THE REPRESENTATIVE SOLD A UNIT INVESTMENT TRUST AND PURCHASED TWO FRONT LOADED MUTUAL FUNDS WITHOUT THE CLIENT'S AUTHORIZATION IN ORDER TO GENERATE A COMMISSION.

$5,000.00

SUITABILITY.

$75,000.00

ALLEGES PURCHASE OF SECURITY WAS UNAUTHORIZED & FUTHER CLAIMS THAT OTHER SECURITIES WERE UNSUITABLE GIVEN HER TIME HORIZON AND RISK TOLERANCE.

$22,390.39

$8,967.16

CLIENT ALLEGED AUTHORIZATION WAS NOT GIVEN ON TWO TRADES.

$11,000.00

CUSTOMER ALLEGED THAT MR. MICHEL EXCESSIVELY TRADED SECURITIES IN THE CUSTOMER ACCOUNT DURING THE FIRST SIX MONTHS OF 2001 ON AN UNAUTHORIZED BASIS WHICH RESULTED IN SUBSTANTIAL LOSSES. MR. MICHEL VIGOROUSLY DENIES THE ALLEGATIONS.

$100,000.00

$30,000.00

CLIENT ALLEGES MR. MICHEL TRADED HIS ACCOUNT WITHOUT AUTHORIZATION AND INVESTED IN UNSUITABLE INVESTMENTS. MR. MICHEL DENIES THE CLAIMS.

$45,000.00

$14,876.46

CUSTOMER ALLEGES THAT LOSSES OCCURRED IN HIS ACCOUNT DUE TO ACTIVE TRADING. THE CUSTOMER WAS AWARE OF TRADING AND ALL LOSSES AT THE TIME OF TRADING. CUSTOMER REQUESTED AN AGGRESSIVE TRADING ACCOUNT.

$83,680.36

$50,000.00