Michael Roush Allegedly Executed Unsuitable Transactions
Michael Roush (CRD #: 5793730), a broker registered with Fifth Third Securities, is involved in a pending dispute, according to his BrokerCheck record, accessed on February 7, 2023. If you want to know more about his alleged conduct as a broker, keep reading.
In a dispute filed on October 5, 2022, a guardian for an investor alleged that Michael Roush executed the unsuitable purchase of an annuity and sale of an equity position. They seek $350,000 in this pending dispute.
FINRA Rule 2111
FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Brokers must take into account an investor’s tax status, age, risk tolerance, and other information described in their profile.
- Investments can be unsuitable because they are high-risk and more likely to cause losses for the client.
- Investments may also be unsuitable because they are illiquid. Certain securities are meant to be held for an extended time and can penalize investors with high fees if they try to cash out too soon.
- Trading activity can be quantitatively unsuitable, which means that the broker executed an excessive number of trades.
- Overall investment strategies can also be unsuitable—overconcentration in a singular stock or sector is a common example.
Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.
Michael Roush 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 6 – Investment Company Products/Variable Contracts Representative Examination
Michael Roush is a registered broker in 19 states and a registered investment adviser in Ohio.
He has also worked for J.P. Morgan Securities (CRD#:79) and Chase Investment Services (CRD#:25574).
Kurta Law Can Help
If you worked with Michael Roush and you have concerns about your investments, please contact us today at 877-600-0098 or email@example.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.