Securities Lawyers Blog
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Craig Siegel (Siegel) has been subject to at least four customer complaints and one regulatory action during his career. Siegel is formerly employed by Portfolio Advisors Alliance, LLC (Portfolio Advisors). The majority of the customer complaints against Siegel concern allegations of high frequency trading activity also referred to as churning.
In April 2019 Siegel failed to respond to requests by FINRA to provide documents and information and was suspended indefinitely.
In October 2018 a customer complained that Siegel made unsuitable investment recommendations, breach of regulatory requirements, breach of fiduciary duty, breach of contract, negligence, and churning from July 2013 to August 2017. The claim is currently pending.
In April 2018 a customer complained that Siegel violated the securities laws by alleging that the financial advisor engaged in excessive trading, churning, unsuitable transactions, failure to supervise, and respondeat superior. The claim seeks $99,300 in damages and is currently pending.