Did You Lose Money Because of Michael Francoeur (previously with Cambridge Investment Research)?
Filed: October 24, 2023
Michael Francoeur currently has been the subject of one (1) regulatory event, one (1) termination event, and one (1) customer complaint. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Michael Paul Francoeur.
Who Is Michael Paul Franoceur?
- Advisor Name: Michael Paul Francoeur
- Aliases: Michael Francoeur
- CRD: 5534184
- Location: Somersworth, New Hampshire
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: Cambridge Investment Research, Inc. and Edward Jones
- Number of Known Customer Complaints: 1
- Number of Known Regulatory Events: 1
- Number of Known Termination Events: 1
- Can Michael Francoeur Be Sued: Yes, in Private Arbitration
- Can Michael Francoeur’s Employers Be Sued For Failing to Supervise His Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $10,000
- Highest Settlement: Unknown
If you have suffered investment losses by Michael Francoeur, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a failure to supervise lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Michael Francoeur For Broker Misconduct
As of this publication date, Michael Francoeur has been the subject of 1 regulatory event, 1 termination event, and 1 customer dispute. Let’s review them below.
In February 2021, FINRA filed a regulatory action against Michael Francoeur for consenting to the sanction and to the entry of findings that he refused to provide information requested by FINRA after it received a customer complaint regarding him. The findings stated that Francoeur’s member firm filed a Form U5 stating that he was discharged after he assisted a client with an investment not approved by the firm and communicated through unapproved email, both in violation of firm policy.
In March 2020, Cambridge Investment Research, Inc. terminated Mr. Francoeur for assisting a client with investment not approved by the firm and communicated through unapproved email, both in violation of firm policy.
In December 2019, a complaint was filed against or in reference to Michael Francoeur by multiple customers of Cambridge Investment Research, Inc. alleging that Mr. Francoeur misappropriated the clients’ IRA funds resulting in surrender penalties and tax implications. Per the customers, they lost over $10,000 due to Mr. Francoeur’s actions.
How To File A Claim Against Michael Francoeur (previously with Cambridge Investment Research, Inc. and Edward Jones) To Get Your Money Back.
If you have questions about Michael Francoeur, Cambridge Investment Research, Inc., Edward Jones, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.
