David Scholl suspended by FINRA.
In December, 2015, the Financial Industry Regulatory Authority (“FINRA”) announced that David Scholl of Caledonia, MI formerly with Planmember Securities of Grand Rapids, MI submitted an acceptance, waiver and consent letter whereby he was suspended from association with any FINRA member in any capacity for three months and fined $5,000. The 2013 FINRA complaint alleged that Scholl participated in an unapproved private securities transaction with Mackinac Realty Group. Scholl did not get permission from his broker dealer prior to assisting a client invest over $240,000 in the venture, under which Scholl received a $7,000 commission. Ultimately Mackinac defaulted on their promissory note to the investor
Registration and disciplinary history