Peter Monson Allegedly Trades A Customer’s IRA Account Unsuitably

The law firm of Oakes & Fohser is presently investigating the alleged misconduct of securities broker Peter Monson. According to his publicly available FINRA BrokerCheck report, Peter Monson has been the subject of a regulatory sanction.

Peter Monson is a Minnesota based securities broker. He has worked in the securities industry for twenty-eight years. During his career, he has been registered with five different securities firms.

His Registrations 

• Hayne, Miller Financial (1992-1994)


• Global Financial Group (1994-2001)


• Acument Securities (2001-2002)


• 1st Discount brokerage (2002-2014)


• Van Clemens & Co. (2014-Present)

The Allegations

In February 2020, Peter Monson was officially sanctioned by FINRA. The findings state that he excessively and unsuitably traded a customer's IRA account. He allegedly continued actively trading incredibly risky microcap stocks even though the account had fallen over 60 percent and the customer was facing a serious illness. Due to this alleged unsuitable trading, Peter Monson was fined $7,500 and was suspended from acting as a securities broker in any fashion for a period of six 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 that nation. If you, or someone you know, have lost money investing with Peter Monson, 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.