Michael Joseph Dorsey of Honolulu Hawaii a stockbroker currently registered with Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related arbitration claim which was settled for $50,000.00 in damages founded on accusations of (1) violation of New York Stock Exchange (NYSE) and FINRA Rules (2) violation of federal and state securities laws (3) financial abuse (4) breach of a written contractual agreement (5) fraudulent misrepresentations and omissions being made in regard to the customer’s investments (6) breach of fiduciary duty and (7) the firm’s failure to supervise Dorsey’s equity trades in the customer’s investment portfolio. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-01986 (Oct. 11, 2017).
FINRA Public Disclosure additionally reveals that Dorsey was terminated from prior brokerage firm, Smith Barney, supported by allegations that Dorsey impermissibly placed signatures of customers on account agreements to effect transactions
Dorsey has been employed by Stifel Nicolaus Company Incorporated since August 14, 2008.
