Arque Capital

There are Recent Customer Complaints with Broker Audrey Kuwabara in Firm Arque Capital, Ltd.

November 6, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Audrey Kuwabara (Kuwabara), previously associated with Arque Capital, Ltd., has at least one disclosable event. These events include one customer complaint, alleging that Kuwabara recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,700,000.00 on September 08, 2022.

Claimant has purchased a number of GWG products since 2011. GWG filed Chapter 11 bankruptcy as a debtor in possession in April 2022. Claimant files this claim against Respondent Arque for a number of causes of action including but not limited to breach of fiduciary duty, breach of contract, negligence and violation of various state and federal securities laws. Claimant files this claim against Respondents Kuwabara, Ning and Scanlon for control person liability. Respondents deny all allegations in their entirety.

There are Recent Customer Complaints with Broker Terry Wheeler in Firm Arque Capital, Ltd.

October 6, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Terry Wheeler (Wheeler), previously associated with Arque Capital, Ltd., has at least one disclosable event. These events include one customer complaint, alleging that Wheeler recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $500,000.00 on October 21, 2022.

Wheeler was named in a customer complaint that asserted the following causes of action: breach of contract and warranties; promissory estoppel; vioaltion of state securities statutes; misrepresentation; omission of facts; breach of fiduciary duty; negligence; and, unjust enrichment.

There are Recent Customer Complaints with Broker Michael Ning in Firm Arque Capital, Ltd.

August 5, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Ning (Ning), previously associated with Arque Capital, Ltd., has at least one disclosable event. These events include one regulatory event, alleging that Ning recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on June 04, 2025.

Ning was named a respondent in a FINRA complaint alleging that it failed to provide documents and information requested by FINRA in connection with its investigation into whether certain securities recommendations by his member firm’s registered representatives to customers were in the best interests of the customers. The complaint alleges that Ning was President, CEO, and custodian of records for the firm. FINRA sought documents regarding certain identified securities, and the firm’s recommendations of, and communications regarding, those securities to specified customers of two former firm representatives, among other things. The documents and information FINRA requested were material to its investigation because they directly related to recommendations of certain identified securities by the firm’s representatives to specified customers of the two former firm representatives, whether those securities were in the customers’ best interest, and whether those individuals and/or the firm violated any securities laws, regulations, or FINRA rules. The complaint also alleges that Ning failed to provide the requested records in his role as the firm’s custodian. On March 29, 2024, Ning, on behalf of the firm, filed an amended Form BDW with FINRA naming himself as the designated custodian of records. In this role, Ning was required to make the requested records available to FINRA upon request yet failed to do so.

There are Recent Customer Complaints with Broker Nancy Zak in Firm Arque Capital, Ltd.

July 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Nancy Zak (Zak), previously associated with Arque Capital, Ltd., has at least one disclosable event. These events include one customer complaint, alleging that Zak recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint with a damage request of $1,000,000.00 on November 02, 2023.

Claimants allege representative and the firm took advantage of them in order to enrich themselves by recommending they invest in an offering they claim to be fraudulent.

Arque Capital Sanctioned By FINRA Over GWG Renewable Secured Debentures Sales

January 1, 2015 | by Staff Attorney

The Financial Industry Regulatory Authority (FINRA) in an acceptance, waiver, and consent action (AWC) sanctioned Arque Capital, Ltd. (Arque) concerning allegations that since 2011 Arque has acted as the managing broker-dealer for an alternative investment – GWG Renewable Secured Debentures (the Debentures) offered by GWG Holdings, Inc, In that capacity FINRA alleged that Arque was responsible for conducting due diligence into GWG and the Debentures, and reviewing all advertising pieces related to the Debentures. FINRA found that between March 2012, and November 2012, Arque distributed a GWG Debenture sales brochure that contained misleading statements.

Arque has been a registered broker-dealer since 2002, has its home office in Scottsdale, Arizona, and 23 branch offices located in various states. The firm has approximately 60 registered representatives. In recent months FINRA has brought numerous disciplinary actions against various firms, supervisors, and brokers concerning the improper sale of GWG Debentures including:

Center Street Securities Broker David Escarcega Investigated Over GWG Debenture Sales;