Former Cambridge Investment Research, Inc. broker Michael Francoeur (CRD# 5534184) was terminated for selling away. Francoeur was registered with Cambridge Investment Research, Inc. in Somersworth, New Hampshire from 2012 to 2020, when he was terminated regarding, “Registered Representative assisted client with investment not approved by the firm and communicated through unapproved email, both in violation of firm policy.”
In February 2021, FINRA barred Francoeurafter he, “consented to the sanction and to the entry of findings that he refused to provide information requested by FINRA after it received a customer complaint regarding him. The findings stated that Francoeur’s member firm filed a Form U5 stating that he was discharged after he assisted a client with an investment not approved by the firm and communicated through unapproved email, both in violation of firm policy.”
Francoeur has been the subject of one customer complaint in 2019 that was denied, according to his CRD report.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Cambridge Investment Research, Inc. may be liable for investment or other losses suffered by Francoeur’s customers.
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