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Michael Rudio Involved in a Structured Product Dispute

Michael Rudio (CRD #: 6322313), a broker registered with Purshe Kaplan Sterling Investments, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on March 18, 2024. Keep reading if you have questions regarding his conduct. 

Investor Dispute

On January 24, 2024, investors alleged that Michael Rudio recommended unsuitable investments in structured products. 

Structured products

Structured products are complex investments that combine a bond and a derivative. Investors’ returns are dependent on the performance of the derivative component—examples of which include forwards, options, and swaps.

The complicated nature of structured products makes them difficult for investors to evaluate.

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Background Information 

Michael Rudio has passed the following exams: 

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

He is a registered broker in 19 states and D.C. He is a registered investment adviser in Georgia. 

During his nine years of experience, he has registered with four firms: 

  • Purshe Kaplan Sterling Investments (CRD #: 35747) 
  • Phase Line Capital (CRD #: 315116) 
  • LPL Financial (CRD #: 6413)
  • Edward Jones (CRD #: 250) 

Kurta Law Can Help 

If you have worked with Michael Rudio and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.

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