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Michael Starego Faced a Variable Annuity Dispute

Michael Starego (CRD #: 6781724), a broker registered with Equitable Advisors, is the subject of a variable annuity dispute. This disclosure appears on his BrokerCheck record, accessed on February 2, 2024. Keep reading if you have questions. 

On October 13, 2023, an investor alleged that Michael Starego misrepresented a variable annuity policy. The dispute was denied, but investors should know that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration. 

FINRA Rule 2330 and Variable Annuities

FINRA Rule 2330 requires brokers to have a reasonable basis to believe that their recommendation of a deferred variable annuity is suitable for the investor.

What is a Variable Annuity? 

Variable annuities are complex investments. They are insurance products that come with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. Furthermore, the risk associated with this type of illiquid investment makes it unsuitable for many investors.

Background Information 

Michael Starego 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 Starego is a registered broker in five states. 

Kurta Law Can Help 

If you have worked with Michael Starego 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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