Michael Huang (CRD #5407345) Has a Civil Charge Disclosure on FINRA BrokerCheck

Michael Huang (CRD #5407345) appears on FINRA BrokerCheck with a civil charge disclosure. We reviewed his BrokerCheck report on April 11, 2026. It reflects one pending civil matter. If you invested with Michael Huang and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Civil Charges

Michael Huang’s FINRA BrokerCheck report reflects one pending civil charge disclosure. A summary of the matter is below:

On February 23, 2026, Todd R. Snyder, as plan administrator for Terraform Labs Pte. Ltd., et al. and the Wind Down Trust, filed a civil action in the United States District Court for the Southern District of New York. Michael Huang’s FINRA BrokerCheck disclosure says the case names Jane Street Group, LLC, Jane Street Capital, LLC, Bryce Pratt, Robert Granieri, and Michael Huang. It states that the complaint alleges violations of federal securities and commodities laws tied to Terraform crypto tokens. The disclosure also says the firm believes the complaint is meritless and plans to contest the claims. The matter is pending.

Rule Summary #1: FINRA Rule 2020 (Use of Manipulative, Deceptive or Other Fraudulent Devices)

FINRA Rule 2020 bars manipulative, deceptive, or fraudulent devices in securities transactions. When a civil complaint alleges deceptive or manipulative conduct, this rule is often relevant.

Rule Summary #2: FINRA Rule 3110 (Supervision)

FINRA Rule 3110 requires firms to maintain a supervisory system reasonably designed to achieve compliance with securities laws and FINRA rules. Civil claims about trading activity can also raise questions about supervision and controls.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

2. Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

3. Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

4. Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Michael Huang:

Has one pending civil disclosure.

Has a BrokerCheck profile and report linked above for investors who want to review the source record.

Is listed in a matter filed in the Southern District of New York.

Kurta Law Can Help

If you have worked with Michael Huang and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Securities Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.