FINRA has filed a complaint against Oceanside, California stockbroker David Mickelson, who worked for NFP Securities. In April 2013, FINRA accused Mickelson of various forms of improper conduct relating to sales of the Micro Pipe Fund. Mickelson apparently raised $8.3 million for the Micro Pipe fund in violation of FINRA rules. Mickelson owned Micro Pipe Capital Management, LLC and Mickeslon Investment Management, LLC which managed the Micro Pipe Fund. Mickelson allegedly solicited investments in the Micro Pipe Fund in violation of FINRA rules because he failed to obtain his firm's permission to sell the investment. This type of conduct often is referred to as "selling away" and is deemed a serious form of stockbroker misconduct.
Micro Pipe Fund investors may be able to recover investment losses from NFP Securities through FINRA arbitration. Please contact a lawyer at Dimond Kaplan & Rothstein, P.A. for a free case evaluation. Our law firm represents individual and institutional investors throughout the United States from offices in Los Angeles, Miami, New York, and West Palm Beach. We can be reached toll free 1-888-578-6255 or at info@dkrpa.com. We handle investment loss cases on a contingency fee basis and only get paid unless we are successful for our client.
