Larry Michaels is Facing a FINRA Investigation

Larry Michaels (CRD #: 4351477), a broker registered with Crown Capital Securities, L.P., is the subject of a FINRA investigation. This is according to his BrokerCheck record, accessed on April 9, 2024. Keep reading if you have questions regarding his alleged conduct. 

FINRA Investigation 

On February 21, 2024, FINRA made a preliminary determination to recommend that disciplinary action be brought against Larry Michaels for allegedly exercising discretion without prior written authorization and failing to disclose outside business activities. 

FINRA Rule 3260 – Unauthorized Trading

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. Discretionary accounts must also be approved by the firm before this trading can occur.

FINRA Rule 3270 – Outside Business and Selling Away

FINRA Rule 3270 requires brokers to inform their firm of any outside business activities or any investments sold away from the firm. The brokerage firm may prohibit the activity if the firm believes the proposed activity may compromise the broker’s duties. Firms may also require brokers to seek approval of any outside business.

Background Information 

Larry Michaels has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker and investment adviser in both California and Texas. He is also a registered broker in Idaho and Ohio. 

During his 22 years of experience, Larry Michaels has registered with seven firms. These are the four most recent: 

• Crown Capital Securities (CRD #: 6312) 
• Legacy Advisory Group (CRD #: 328470) 
• J.P. Turner & Company Capital Management (CRD #: 124446) 
• J.P. Turner & Company LLC (CRD #: 43177) 

Kurta Law Can Help 

If you have worked with Larry Michaels and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.