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Michael Rosenmayer Named in Dispute Alleging Violations of Securities Laws

May 24, 2023 Investor Disputes

Michael Rosenmayer (CRD #: 2352488), a broker registered with Oppenheimer & Company, is involved in a pending dispute, according to his BrokerCheck record, accessed on May 18, 2023. Keep reading to learn more about his alleged conduct as a broker.

Investor Disputes

On March 29, 2023, several investors filed a dispute naming Michael Rosenmayer in allegations of unsuitability, negligence, negligent supervision, breach of contract, and misrepresentations and omissions made in relation to purchases of Capital Trust Agency Florida Senior Living Bonds in 2019 and 2020.

The clients further alleged violations of California securities laws, FINRA rules, and federal securities laws. They seek $231,826 in damages in this pending dispute.

In a dispute filed on March 13, 2023, an investor alleged that Michael Rosenmayer failed to inform him about the risks associated with his investments. This dispute was denied by the firm.

However, investors should know that firms can deny disputes without an external review. Investors can still pursue FINRA arbitration after a denial and may be able to recoup their losses.

On May 24, 2018, a trustee alleged that Michael Rosenmayer made an unsuitable investment in their account in January 2018. This dispute was allegedly resolved by Oppenheimer & Company repurchasing a bond from the client.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles describe an investor’s tax status, risk tolerance, and financial goals.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision over their employees in order to identify and prevent violations of securities regulations. Firms must appoint supervisors and provide them with Written Supervisory Procedures (WSPs) to follow.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of manipulative, deceptive, or otherwise fraudulent tactics to influence the purchase and sale of securities. This includes the misrepresentation or omission of information, such as an investment’s limitations, requirements, or potential returns.

FINRA Rule 2010

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

What is broker negligence?

Brokers may act in many negligent ways, including misrepresenting or omitting material facts, recommending unsuitable investments, or failing to supervise other brokers.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by seeking out FINRA arbitration.

What are Blue Sky Laws?

Blue sky laws are state securities regulations that provide investors with an extra layer of protection against fraud. They typically also define what investments qualify as securities in the state.

Background Information

Michael Rosenmayer has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Michael Rosenmayer is a registered broker in 14 states and a registered investment adviser in California and Texas.

He has also worked for the following firms:

  • RBC Dain Rauscher (CRD#:31194)
  • Prudential Securities (CRD#:7471)
  • M.L. Stern & Company (CRD#:8327)

Kurta Law Can Help

If you worked with Michael Rosenmayer 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.