Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Munley (Munley), currently associated with Peak Brokerage Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Munley 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 $500.00 on April 25, 2022.
The Company received a written customer complaint on 4/25/2022. The customer claimed that Mr. Munley met with him and his wife and made the recommendation to replace an existing product with a new product. In part, the customer alleged that he did not sign anything to effectuate this transaction, but the replacement transaction was processed anyway. Based on the allegations, the Company investigated. During the investigation, Mr. Munley admitted to electronically signing the customer’s name to an application he completed and did so without the customer’s authorization and without allowing the customers the opportunity to review the completed application. Mr. Munley’s actions violated Company policy.