The investor rights attorneys at Compass Law Group PS Inc. are currently investigating the activities of former Cambridge Investment Research, Inc. stockbroker Michael Duch (CRD# 2276302) of Aberdeen, South Dakota. Our attorneys are currently available to assist those who invested with Michael Duch and can be reached at 206-728-1110.
On October 15, 2015, Michael Duch entered into a Letter of Acceptance, Waiver and Consent (“AWC”) with the Financial Industry Regulatory Authority (“FINRA”) Department of Enforcement to resolve allegations FINRA made against him regarding a violation of securities industry rules which indicated Michael Duch, who did business as Schwan Financial Group, LLC, in Aberdeen, South Dakota, consented, without admitting or denying the allegations made against him by FINRA, to a $15,000 fine and a twenty (20) business-day suspension from associating with any FINRA member firm in all capacities in resolution of FINRA Disciplinary Proceeding No. 2010023826302. FINRA alleged that “[f]rom November 2009 to May 2010, Duch violated NASD Rule 3040 and FINRA Rule 2010 by participating in private securities transactions, not for compensation, without providing prior written notice to, or receiving prior written approval from, his Firm.” According to FINRA’s allegations, the private securities transactions at issue in Duch’s AWC involved Running Springs Oil and Gas, L.P., Obele Energy, L.P., and Montana Victory Insurance Services, LLC.
If you invested with Michael Duch, Cambridge Investment Research, Inc. or any other broker or brokerage firm recomending Running Springs Oil and Gas, L.P., Obele Energy, L.P., Montana Victory Insurance Services, LLC. or any other investments and suffered significant losses as a result, you may be entitled to a recovery by filing claims in FINRA Arbitration against the brokerage firm that licensed your broker. If you desire a free, no obligation consultation regarding potential claims against a brokerage firm call our office today at 206-728-1110.