Michael Boring Suspended by FINRA
Michael Boring (CRD #: 5792239), a broker formerly registered with Pruco Securities, has been suspended by FINRA, according to his BrokerCheck record, accessed on July 4, 2023. Read on if you have questions about his alleged conduct as a broker.
FINRA Suspension
On May 10, 2023, Michael Boring received a Letter of Suspension alleging that he failed to comply with an arbitration award or settlement agreement or to adequately respond to a FINRA request for information as to the status of his compliance.
His suspension will continue until the required payment is made or discharged.
On March 10, 2023, an investor filed a dispute alleging that Michael Boring breached promissory notes and engaged in unjust enrichment. An arbitration award made him liable for $343,057.81 in damages, plus interest and attorneys’ fees.
You can read a copy of the arbitration award here.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
FINRA Rule 2150
FINRA Rule 2150 prohibits the improper use of investors’ funds.
Article VI, Section 3 of FINRA By-Laws
Article VI, Section 3 of FINRA By-Laws allows FINRA to suspend or cancel the membership of any member who fails to comply with arbitration awards or settlement agreements.
FINRA Rule 9554
FINRA Rule 9554 penalizes brokers who fail to comply with arbitration awards or settlements by suspending or canceling their registration. Brokers have 21 days to request a hearing before their suspension or cancellation becomes final.
Background Information
Michael Boring has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
He previously worked for the following firms:
- Pruco Securities (CRD#:5685)
- Wells Fargo Clearing Services (CRD#:19616)
- Edward Jones (CRD#:250)
Kurta Law Can Help
If you worked with Michael Boring and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.
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