Michael Spohn Allegedly Executed Unauthorized Trades

Michael Spohn (CRD #: 4696138), a broker registered with Hilltop Securities, allegedly executed unauthorized trades, according to his BrokerCheck record, accessed on August 31, 2025. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On March 3, 2016, an investor alleged that Michael Spohn made unsuitable investment recommendations. The client further alleged that he executed unauthorized trades starting in 2004. The client sought $93,000 in damages but the dispute was denied by the firm.

Investors should know, however, that they can still pursue FINRA arbitration and potentially recover their losses even if a firm denies their dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consider the information in the investor’s profile, such as their age, tax status, and risk tolerance when recommending investments.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 3260

FINRA Rule 3260 prohibits brokers from conducting discretionary trading outside discretionary accounts, which are pre-approved for discretionary trading by the firm and the client.

Background Information

Michael Spohn has passed the following exams:

• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

Michael Spohn is a registered broker in 19 states and a registered investment adviser in ten states.

He has also worked for M. L. Stern & Company (CRD#:8327).

Kurta Law Can Help

If you worked with Michael Spohn 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 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.