TAG | Michael Silva
Michael Scott Silva (CRD # 3056607, Registered Supervisor, Petaluma, California) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for 10 business days. Without admitting or denying the findings, Silva consented to the described sanctions and to the entry of findings that he recommended that a customer invest approximately $140,000 in a principal-protected note (PPN) and caused the purchase of the PPN in the customer’s account without having reasonable grounds for believing that the recommendation was suitable for the customer in light of the customer’s annual income and total net worth. The findings stated that the PPN issuer filed for bankruptcy protection and defaulted on the PPN, resulting in the PPN’s value dropping precipitously, and the customer ultimately sold the PPN for approximately $8,800.
This information is available on the FINRA website’s Disciplinary Actions.
If you have been a victim of the alleged fraudulent schemes of Michel Scott Silva, or a similar situation, call a Securities Arbitration Lawyer for a free consultation on how to recover your losses. To speak with an attorney, call 888-760-6552, or visit www.stockmarketlawsuit.com. Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority
Financial Industry Regulatory Authority · FINRA · FINRA arbitration · finra lawyer · finra securities arbitration · Florida Securities Lawyer · Ft. Lauderdale Securities Lawyer · investment fraud · Michael S Silva · Michael Scott Silva · Michael Silva · PPN · principal protected notes · securities arbitraton lawyer · securities fraud · securities fraud lawyer · Soreide Law Group PLLC · Stock fraud lawyer · stockbroker misconduct