Written by The White Law Group• February 19, 2020• 8:59 pm• Blog, Current Investigations, Securities Fraud Articles

Masood Azad (Mike Azad) Broker Investigation

Financial Advisor Masood Azad (Mike Azad), First Allied Securities, League City, TX

FINRA Reportedly Bars Mike Azad after Allegations of Unapproved Private Securities Transactions

Are you concerned about investments with Masood Azad (Mike Azad) in League City, TX? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

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Azad reportedly failed to provide FINRA requested documents and information in connection with its investigation into allegations of misconduct by Azad while associated with his member firm. The findings stated that the allegations included that Azad “participated in an unapproved private securities transaction by soliciting investments and/or directly investing in an electronic data security company and engaged in outside business activities involving the company without obtaining authorization from the firm.”

According to his broker check report, Azad was reportedly registered with First Allied Securities in League City, TX from 2015 until 2017 when he was allegedly discharged due to “firm policy relating to borrowing money from clients, engaging in an unapproved private securities transaction and outside business activity.” Azad was reportedly affiliated with Voya Financial Advisors from 2004 until 2015.

Investigating Potential Lawsuits

The White Law Group is investigating potential securities fraud lawsuits regarding the liability that Azad’s employers may have for failure to properly supervise him.

When brokers violate securities laws, such as making misrepresentations or recommending unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states including Texas. Our attorneys have recovered millions of dollars from many brokerage firms in the past.