Michael Fitzgerald Dunne of Chicago Illinois is the president of Forest Securities Inc. who is subject of a Financial Industry Regulatory Authority (FINRA) investigation based upon accusations of Dunne’s involvement in private securities transactions and use of unauthorized communication channels relating to a Regulation D offering. FINRA Case No. 20160495874 (Aug. 2, 2017).
FINRA Public Disclosure reveals that Dunne is the subject of a customer initiated investment related arbitration claim, where the customer sought more than $5,000.00 in damages supported by allegations of breach of fiduciary duty and unauthorized trading relating to the customer’s equity and corporate debt investment transactions placed between April of 2012 and May of 2016. FINRA Arbitration No. 17-02211 (Aug. 23, 2017). The customer additionally alleged that the chief compliance officer, operations principal, and Dunne were liable as control persons for the activities which transpired in the customer’s account.
Since June 24, 1987, Dunne has been associated with eight different broker dealers, one of which has been expelled by securities regulators for violation of federal securities laws or is otherwise defunct.
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