Michael J. Haffling of Chicago Illinois a stockbroker currently registered with Kalos Capital Inc. and Kalos Management is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested more than $100,000.00 in damages founded on allegations of negligence and breach of fiduciary duty concerning real estate security transactions by Haffling during the period in which he was associated with Kalos Capital. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01526 (Aug. 17, 2021). The claim alleges fraud and breach of contract. According to the claim, Kalos Capital violated state and federal securities laws relating to the real estate security transactions.
FINRA Public Disclosure shows that Haffling has been identified in four additional customer initiated investment related disputes containing accusations of his wrongful behavior while associated with Kalos Capital. Haffling is the subject of a customer initiated investment related complaint which was settled for $55,000.00 in damages on July 13, 2020 supported by allegations of the failure to conduct due diligence on an issuer’s disclosures and representations.
On January 18, 2021, another customer initiated investment related FINRA securities arbitration claim regarding Haffling’s conduct was resolved for $27,674.00 in damages based upon accusations of the violation of FINRA rules relating to the customer’s purchase of direct participation program interests or limited partnership interests when Haffling was associated with Kalos Capital. FINRA Arbitration No. 20-01096. The claim alleges that due diligence was not performed at Kalos Capital prior to the customer receiving investment recommendations. According to the claim, the customer was charged high commissions on underperforming investments.
Haffling is also referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $18,331.00 in damages founded on allegations of failed due diligence on alternative investments that Haffling sold. FINRA Arbitration No. 20-03716 (Jan. 18, 2021). According to the claim, the issuer’s disclosures and representations were not reviewed by Haffling before the customer was advised to invest in the products.
On March 29, 2021, a different customer filed an investment related FINRA securities arbitration claim concerning Haffling’s activities in which the customer sought compensatory damages supported by accusations of bad investment advice by Haffling regarding a real estate security and a direct investment. FINRA Arbitration No. 21-00768. The claim alleges that the customer’s account was overconcentrated in those products.
Since December 19, 2013, Haffling has been registered as a stockbroker of Kalos Capital Inc. and investment adviser representative of Kalos Management.
