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Michael Parenti Fined Nearly $30,000 by State of Florida

May 24, 2023 Regulatory Action

Michael Parenti (CRD #: 1611264), a broker registered with Ameriprise Financial Services, has been fined by the state of Florida, according to his BrokerCheck record, accessed on May 18, 2023. If you want to know more about his alleged conduct as a broker, keep reading.

Florida Regulatory Action

On April 4, 2023, the Florida Office of Financial Regulation alleged that Michael Parenti rendered investment advice from within the state without being registered by the Office. He was ordered to cease and desist and fined $29,000.

FINRA Rule 2010

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

Background Information

Michael Parenti has passed the following exams:

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

Michael Parenti is a registered broker in 17 states and a registered investment adviser in Florida and Texas.

He has also worked for the following firms:

  • The Pinnacle Financial Group (CRD#:164395)
  • LPL Financial (CRD#:6413)
  • J.P. Morgan Securities (CRD#:79)
  • Chase Investment Services (CRD#:25574)
  • Wells Fargo Advisors (CRD#:19616)
  • Janney Montgomery Scott (CRD#:463)
  • Prudential Securities (CRD#:7471)
  • Josephthal Lyon & Ross (CRD#:3227)
  • John Hancock Distributors (CRD#:468)
  • John Hancock Mutual Life Insurance Company (CRD#:5181)
  • Vanderbilt Securities (CRD#:14280)
  • J. T. Moran & Company (CRD#:15655)     
  • Sherwood Capital (CRD#:10474)
  • First Jersey Securities (CRD#:6621)

Kurta Law Can Help

If you worked with Michael Parenti and you have concerns about your investments, please contact us today at 877-600-0098 or 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.