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Michael McIlvoy Involved in Unauthorized Trading Dispute

May 3, 2022 Unauthorized Trading

Michael McIlvoy (CRD #: 6393290), a broker registered with Edward Jones, allegedly conducted unauthorized trades, according to his BrokerCheck record, accessed on April 25, 2022. Keep reading to learn more about Michael McIlvoy’s conduct as a broker.

Unauthorized Trading Allegations

On January 13, 2022, an investor filed a dispute alleging that Michael McIlvoy sold shares of AT&T (T) and purchased shares of the Virtus AllianzGI Income & Growth Fund Class A (AZNAX) on November 23, 2021, without the investor’s authorization. This dispute was denied following review by the firm.

That being said, firms do not need to allow an external review before denying a dispute, and investors can still pursue FINRA arbitration after a denial.

FINRA Rule 3260

FINRA Rule 3260 requires brokers to receive investor approval before exercising trading discretion.

Background Information

Michael McIlvoy has passed the following exams:

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

Michael McIlvoy is a registered broker in 22 states and a registered investment adviser in Oklahoma and Texas.

Kurta Law Can Help

If you worked with Michael McIlvoy 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.