Michael Anthony McGregor of New York New York is a stockbroker formerly registered with Blackbook Capital LLC who has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected unsuitable trades in a customer’s account. Letter of Acceptance Waiver and Consent No. 2016047619001 (Mar. 14, 2018).
According to the AWC, from August of 2014 to May of 2015, during the time he was associated with Blackbook Capital, LLC, he placed trades in customer WC’s two investment accounts on a quantitively unsuitable basis. In particular, customer WC was a retired individual who had conservative objectives for investing and a limited amount of experience with investing.
The AWC stated that McGregor controlled WC’s accounts, as WC accepted McGregor’s investment recommendations and had not proposed his own trades to be effected. McGregor reportedly then traded in WC’s account in an excessive manner, causing WC’s two accounts to suffer from twenty-five percent and thirty-two percent cost-to-equity ratios. WC reportedly sustained a $14,266.00 loss between both of his investment accounts. FINRA found that McGregor’s conduct was violative of FINRA Rules 2010 and 2111.
This is not the first time that McGregor has been subject of FINRA disciplinary action. Particularly, he has been fined $5,000.00 and suspended for forty-five days from associating with any FINRA member in any capacity based upon consenting to findings that he failed to make disclosures to FINRA concerning unsatisfied liens and judgements; conduct violative of FINRA Rules 2010 and 1122, NASD Conduct Rule 2110, NASD IM-1000-1, and FINRA By-Laws Article V Section 2. Letter of Acceptance, Waiver and Consent, No. 2013035131701 (Mar. 24, 2015).
Following McGregor’s termination from Blackbook Capital, LLC, he was associated with Aegis Capital Corp. between March 10, 2016 and January 9, 2018. Since October 10, 1997, McGregor has been associated with eleven different broker dealers, eight of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach
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