According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Magruder (Magruder), previously associated with Raymond James & Associates, INC., has at least 3 disclosable events. These events include 2 customer complaints, one regulatory event, alleging that Magruder recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on June 27, 2025.
Without admitting or denying the findings, Magruder consented to the sanction and to the entry of findings that he failed to provide information and documents requested by FINRA in connection with its investigation into whether he had obtained loans from customers without notice to, or approval from, his member firms. The findings stated that FINRA requested documents and information material to its investigation, such as financial account statements. Initially, Magruder submitted an incomplete response that did not substantially comply with FINRA’s request. Ultimately, Magruder failed to produce the complete information or documents requested.
Securities Lawyers Blog
