Michael Haupt Allegedly Violated State and Federal Securities Regulations

Michael Haupt (CRD #: 2865821), a broker registered with TradeZero America, allegedly violated securities laws, according to his BrokerCheck record, accessed on July 10, 2022. Keep reading to learn more about Michael Haupt’s conduct as a broker.

Pending Dispute

On May 17, 2022, an investor filed a dispute alleging that Michael Haupt engaged in negligent hiring, breach of contract, misrepresentation, failure to supervise, and violation of good business practices, fair dealing, and state and federal securities laws. These violations allegedly occurred on October 18, 2021. 

The client further alleges that Michael Haupt lied to the client and sent harassing emails with the intention to intimidate them against filing this dispute.

The investor seeks $696,320 in this pending dispute.

FINRA Rules 2111, 3110, 2020

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must examine an investor’s profile, which includes their tax status, risk tolerance, and overall financial situation.

FINRA Rule 3110 requires firms to establish supervisory systems to ensure their brokers comply with securities law.

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent means of influencing the purchase and sale of securities. This includes misrepresenting investments, such as lying to or misleading investors about an investment’s risks, fees, or limitations.

What is broker negligence?

Many types of broker misconduct can qualify as negligent, including unsuitable investment recommendations, misrepresentations and omissions of information, and unauthorized trading. Investors who believe their losses were caused by broker negligence may be able to recover their funds through FINRA arbitration.

Background Information

Michael Haupt has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 55 – Limited Representative-Equity Trader Exam
• Series 25 – NYSE Trading Assistant Examination
• Series 7 – General Securities Representative Examination
• Series 4 – Registered Options Principal Examination
• Series 53 – Municipal Securities Principal Examination
• Series 24 – General Securities Principal Examination

Michael Haupt is a registered broker in all 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands.

He has also worked for the following firms:

• Arive Capital Markets (CRD#:8060)
• Vision Brokerage Services (CRD#:47927)
• Rothschild Lieberman (CRD#:10030)
• Divine Capital Markets (CRD#:118212)
• Direct Access Partners (CRD#:120950)
• The Griswold Company (CRD#:32944)
• CIBC World Markets (CRD#:630)
• Spear, Leeds & Kellogg (CRD#:3466)

Kurta Law Can Help

If you worked with Michael Haupt 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.