WARNING! Investigation of MICHAEL MACKAY – Cincinnati, OH
Michael Mackay, formerly with TransAmerica Financial Advisors, Barred from Securities Industry
Have you lost money with financial advisor Michael Mackay of Cincinnati, Ohio? The law firm of Israels & Neuman is investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Michael Richard Mackay. FINRA barred Mackay from the securities industry after he failed to respond to a FINRA investigation. FINRA was investigating Mackay regarding allegations that Mackay engaged in outside business activities without disclosing such to his former brokerage firm, TransAmerica Financial Advisors. It was alleged that Mackay sold real estate investments that were not authorized by his firm.
Michael Mackay was a financial advisor and registered representative of TransAmerica Financial Advisors from January 2012 to January 2019. He worked at branch offices in Cincinnati, Ohio. He also was affiliated with Mackay & Associates.
Brokerage firms like TransAmerica Financial Advisors have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Seattle, Washington; Ann Arbor, Michigan; and Denver Colorado. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Ohio. Our attorneys have recovered millions of dollars for investors against many brokerage firms in the past.
Click to view: Mackay Michael FINRA AWC
Click to view: Mackay Michael BrokerCheck 7.8.19
If you lost money with Michael Mackay or TransAmerica Financial Advisors, please CONTACT US at 720-599-3505 for a free evaluation of your case.