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Michael Hamilton Subject of SEC Allegations

Michael Hamilton (CRD #: 2038138), a broker registered with Centaurus Financial, is the subject of a regulatory action by the Securities and Exchange Commission. This disclosure appears on his BrokerCheck record, accessed on November 1, 2023. Keep reading if you have questions about his alleged conduct. 

On August 24, 2023, the SEC alleged that Michael Hamilton potentially recommended investments that were not in his investor’s best interest, in violation of Regulation Best Interest (Reg BI). Specifically, the SEC alleges he may have failed to comply with the Care Obligation found in Reg BI. 

What is Regulation Best Interest? 

Regulation Best Interest (Reg BI) expanded on the requirements of FINRA Rule 2111, which defines the criteria for suitable investment recommendations. In addition to limiting their recommendations to investments that suit their investors’ needs, Reg BI requires brokerage firms must also uphold a Duty of Care, the Conflict of Interest Obligation, and the Disclosure Obligation. The Duty of Care Obligation involves researching the market for investments that could offer similar benefits at a lower cost before making a recommendation. 

Background Information 

Michael Hamilton 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 

He is a registered broker in 16 states and is a registered investment adviser in Delaware, Florida, Illinois, Indiana, Maine, Massachusetts, New Jersey, Pennsylvania, and Texas. 

Michael Hamilton has registered with the following firms: 

  • Centaurus Financial (CRD #: 30833) 
  • J.P. Turner & Company Capital Management (CRD #: 124446) 
  • Gunnallen Financial (CRD #: 17609) 
  • Raymond James & Associates (CRD #: 705) 
  • Prudential Securities Incorporated (CRD #: 7471) 
  • Smith Barney (CRD #: 7059) 
  • Lehman Brothers (CRD #: 7506) 
  • Prudential Securities Incorporated (CRD #: 7471) 

Kurta Law Can Help

If you worked with Michael Hamilton and 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 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.