Investors Allege Michael Harris Failed to Act in Their Best Interest

Michael Harris (CRD #: 2982772), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, allegedly misrepresented an investment, according to his BrokerCheck record, accessed on August 17, 2025. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

On July 8, 2025, multiple investors filed a dispute alleging that Michael Harris misrepresented an unsuitable investment and failed to act in their best interest from 2023-2025. This dispute is currently pending.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. The misrepresentation or omission of material facts violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles describe investors’ age, tax status, risk tolerance, investment goals, and other information.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information

Michael Harris has passed the following exams:

• General Securities Sales Supervisor – General Module Examination – Series 10
• General Securities Sales Supervisor – Options Module Examination – Series 9
• Securities Industry Essentials Examination – SIE
• National Commodity Futures Examination – Series 3
• General Securities Representative Examination – Series 7
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

Michael Harris is a registered broker in 35 states and the District of Columbia. He is a registered investment adviser in Texas and California.

He has also worked for the following firms:

• Prudential Securities (CRD#:7471)
• A. G. Edwards & Sons (CRD#:4)
• H.D. Vest Investment Securities (CRD#:13686) 

Kurta Law Can Help

If you worked with Michael Harris 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 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.