Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on September 15, 2017 indicate that Georgia-based National Securities Corporation broker Keith Michelfelder has been sanctioned by FINRA and temporarily suspended from acting as a broker. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Michelfelder (CRD# 3084331).
Keith Michelfelder has spent 19 years in the securities industry and has been registered with National Securities Corporation in Atlanta, Georgia since 2016. Previous registrations include Joseph Gunnar & Company in New York, New York. He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 63 (Uniform Securities Agent State Law Examination); Series 7 (General Securities Representative Examination) and Series 24 (General Securities Principal Examination). He is a registered broker and investment adviser with nine US states: California, Georgia, Indiana, Minnesota, New Jersey, New York, North Carolina, Pennsylvania, and Texas.
According to his BrokerCheck report, he has received one FINRA sanction and two customer complaints.
In August 2017 FINRA sanctioned him following allegations he “effected at least 16 transactions in the accounts of a member firm customer without having obtained prior written authorization from the customer and written acceptance of the accounts as discretionary by his firm.” FINRA’s findings state further: “the firm’s policies prohibited the use of non-firm email addresses to conduct firm business. In 2010 and 2011, Michelfelder signed annual certifications agreeing to use the firm’s domain email only for communications with customers and concerning firm business. Nevertheless, during July 2012, Michelfelder knowingly used a non-firm email address to communicate with the above customer. Michelfelder communicated with the customer through a personal email address concerning a sales practice complaint that the customer made concerning [his] handling of the customer’s accounts at the firm. Because [he] used a non-firm approved email address, the customer’s complaint did not immediately come to the firm’s attention. As a result, [he] prevented the firm from discharging its supervisory and recordkeeping obligations.” He was issued a fine of $10,000 and a 60-day suspension, set to begin on September 18, 2017.
In 2012 a customer alleged Keith Michelfelder, while employed at Joseph Gunnar & Company, executed unauthorized trades. The complaint resulted in an award to the customer of $702,037.
In 2011 a customer alleged Keith Michelfelder, while employed at Joseph Gunnar & Company, participated in unauthorized trading. The complaint settled for $61,500.
If you or someone you know has a complaint regarding Keith Michelfelder, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.