The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Michael Guilfoyle. According to his publicly available FINRA BrokerCheck report, Michael Guilfoyle has been the subject of a customer dispute and a FINRA sanction.

Michael Guilfoyle was a New York-based securities broker. He worked in the securities industry for eight years. During his career, he was registered with twelve different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • J.P. Turner & Company (2006-2009)
  • Gunnallen Financial (2009)
  • Mercer Capital (2009)
  • Brookstone Securities (2010-2011)
  • Newbridge Securities Corporation (2011)
  • Global Arena Capital Corporation (2012)
  • America’s Choice Equities (2012-2013)
  • Joseph Gunnar & Co. (2013)
  • Legend Securities (2013-2016)
  • IFS Securities (2016)
  • Four Points Capital Partners (2016-2017)

The Allegations

  • In October 2014, a customer alleged that Michael Guilfoyle churned their account, recommended unsuitable investments, and engaged in unauthorized trading. This case was settled for $99,999 in damages.
  • In December 2017, Michael Guilfoyle was officially sanctioned by FINRA. The findings in this matter state that he churned the accounts of two customers–one of which was a retired senior citizen. Both of these customers had very little investment experience and knowledge and thus relied on Guilfoyle completely to make responsible investments on their account. Due to these allegations, he was fined $10,000 and suspended from acting as a securities broker in any fashion for a period of ten months.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Michael Guilfoyle, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.