Securities Arbitration Lawyers BlogFormer Miami, Florida-based Broker Under Investigation for Unsuitable Recommendations
Former Dakota Securities International (“Dakota”) broker Christopher R. Mcnamee (CRD# 4271195) is under investigation for recommending unsuitable investments to his customers.
The Financial Industry Regulatory Authority (“FINRA”) arbitration complaint, according to Mcnamee’s FINRA BrokerCheck report, alleges damages in the amount of $1 million. Aside from unsuitable recommendations, the FINRA arbitration complaint alleges the use of excessive margin.
Mcnamee has an additional BrokerCheck report disclosure alleging unsuitable investment recommendations as well. The dispute was settled in March 2015 for $50,000.