Securities Fraud Lawyer Blog
Michael Tanha suspended by FINRA
Michael Tanha, a registered representative from Beverly Hills, California, formerly with Merrill Lynch, was suspended from FINRA membership for 10 months and fined $15,000 as a result of an investigation into his participation in outside business activated without obtaining the prior written approval of his member firm. The findings, contained in an acceptance waiver and consent agreement with FINRA state that Tanah engaged in private securities transactions by soliciting an investment from a firm client into a company that Tanha controlled. Among the outside businesses that Tanha disclosed to Merrill Lynch are Boulevard Family Wealth and Boulevard Insurance Strategies, both of Beverly Hills, CA. The suspension runs from May, 2019 through March, 2020
Michael Tanha’s registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration.
Michael Tanha was registered with Merrill Lynch from October, 2014 to June 2017.
According to FINRA’s CRD disclosure report, Tanha has been the subject of one regulatory investigation and two employment disclosures after termination resulting from his participation in outside business activities.
FINRA is the primary regulator for broker dealers and registered representatives in the United States. FINRA’s role is to promulgate standards and practices for the brokerage industry and to ensure compliance with its rules by licensed entities and individuals.
FINRA has two primary ways to ensure compliance with the securities laws: by means of an enforcement unit that investigates and disciplines wrongdoing, and through the establishment of an arbitration forum where investors can resolve disputes against broker dealers. FINRA’s arbitration forum, FINRA Dispute Resolution is the largest arbitration forum in the country for resolving investor disputes, and typically processes over 10,000 filings annually.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 24 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via unlawful and unsuitable investment transactions. During that time, we have recovered money for over one thousand individuals, pension plans, trusts, and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.