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Michael Ivey Allegedly Recommended Unsuitable Oil and Gas Investment

Michael Ivey (CRD #: 4685762), a broker registered with Lincoln Financial Securities, allegedly gave an unsuitable investment recommendation, according to his BrokerCheck record, accessed on October 16, 2022. If you want to know more about his conduct as a broker, read on.

Investor Dispute

In a dispute filed on July 8, 2022, an investor alleged that Michael Ivey made an unsuitable recommendation of an oil and gas investment. Energy investments can be volatile and often do not suit investors’ needs. This dispute is currently pending. 

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. An investor’s profile includes information such as their age, risk tolerance, and tax status.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 2111 automatically violate FINRA Rule 2010. 

Background Information

Michael Ivey has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Michael Ivey is a registered broker in seven states and a registered investment adviser in Texas.

He previously worked for Linsco/Private Ledger Corporation (CRD#:6413).

Kurta Law Can Help

If you worked with Michael Ivey 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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