Securities Lawyers Blog
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.