Michael Darvish Allegedly Executed Excessive Trades

Michael Darvish (CRD #: 3243141), a broker registered with LPL Enterprise, is the subject of a FINRA investigation. This is according to his BrokerCheck record, accessed on August 4, 2025. Keep reading if you have questions concerning his alleged conduct. 

Investigation 

On April 3, 2025, FINRA made a preliminary determination to recommend that formal disciplinary actions be brought against Michael Darvish following allegations that he made unsuitable and excessive trades. He also allegedly violated Regulation Best Interest. 

Excessive Trading

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. Trades must be quantitatively suitable, meaning the number of trades must suit an investor’s needs. Each trade comes with a transaction fee, so too many transactions will result in excessive fees for the investor. Excessive trading is also known as “churning.” 

What is Regulation Best Interest? 

Regulation Best Interest expands on the requirements of FINRA Rule 2111, which defines suitable investment recommendations. In addition to limiting their recommendations to investments that suit their investors’ needs, brokerage firms must also uphold a Duty of Care, the Conflict of Interest Obligation, and the Disclosure Obligation. These obligations and duties require brokerage firms to disclose conflicts of interest. Firms must also research the market for investments that could offer similar benefits at a lower cost prior to making a recommendation.

Background Information 

Michael Darvish has passed the following exams: 

• Series 66 Uniform Combined State 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 in 10 states and is a registered investment adviser in New York. 

Michael Darvish has registered with the following firms: 

• Pruco Securities (CRD #: 5685) 
• Prudential Financial Planning Services (CRD #: 5685) 
• Spartan Capital Securities (CRD #: 146251) 
• Spartan Capital Private Wealth Management (CRD #: 154632) 
• Regal Advisory Services (CRD #: 123842) 
• Regal Securities (CRD #: 7927) 
• Rockwell Securities (CRD #: 142483) 
• Andrew Garrett (CRD #: 29931) 
• S.W. Bach & Company (CRD #: 43522) 

Kurta Law Can Help

If you worked with Michael Darvish and 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 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.