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Broker Complaints: BMO Harris Financial Advisors (CRD#137115)

The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding the Illinois-based brokerage and advisory firm BMO Harris Financial Advisors (CRD# 137115).

Formed in Delaware in 2005, BMO Harris is headquartered in Chicago, Illinois and registered in 53 US states and territories. Michael Miroballi is President and Chief Executive Officer; Stephanie Lake is Chief Financial Officer; William Joseph Crain, Jr. is Vice President and Chief Operating Officer; James Roth Downing is Vice President and Chief Compliance Officer; Darrell Hackett is Chairman.

According to the firm’s BrokerCheck report, BMO Harris is the subject of six regulatory sanctions.

In 2009 the Financial Industry Regulatory Authority (FINRA) sanctioned BMO Harris following allegations used marketing materials “that were not fair and balanced and did not provide a sound basis for evaluating the facts” regarding an investment in auction rate securities. BMO Securities was censured and issued a fine of $150,000.

In 2009 FINRA sanctioned BMO Harris following allegations the firm used a presentation with customers that was not “fair and balanced” and failed to adequately disclose the risks associated with an investment in auction rate securities. BMO Harris was censured and issued a fine of $150,000.

In 2008 the Florida Office of Financial Regulation sanctioned BMO Harris following allegations the firm conducted securities transactions at ten unregistered locations. BMO Harris was issued a fine of $20,000.

In 2006 the Maryland Division of Securities sanctioned BMO Harris following allegations the firm conducted securities transactions while it was not registered in the state of Maryland. BMO Harris was censured and issued a fine of $1,425.

In 2005 the State of Connecticut sanctioned BMO Harris following allegations the firm conducted business transactions when it was not properly registered. BMO Harris was issued a fine of $5,000.

In 2001 the National Association of Securities Dealers sanctioned BMO Harris following allegations the firm allowed 6 representatives to engage in activities for which they were not properly qualified. BMO Harris was censured and issued a fine of $20,000.

If you have suffered losses as a result of investments made with BMO Harris Financial Advisors, you may be able to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: we only receive payment if and when you recover money. You may have a limited window to file your claim, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.