Former Peoria, Arizona financial advisor Scott Taubman (CRD# 4809824) was recently sanctioned and suspended in connection with alleged rule violations....
Read MoreScottsdale Advisor Michael Ning: GWG Holdings Complaint
Arque Capital financial advisor Michael Ning (CRD# 3088956) recently received a seven-figure investor complaint concerning investments in GWG Holdings. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Scottsdale, Arizona.
Mr. Ning’s BrokerCheck report discloses one investor complaint. Filed in September 2022, it alleges breach of fiduciary duty, breach of contract, negligence, and violations of state and federal securities laws connected to sales of GWG Holdings products by Arque Capital. The pending complaint alleges damages of $1.7 million.
In a statement on the complaint’s disclosure, Mr. Ning wrote that the claim is “meritless” and that he and the other respondents “deny all allegations in their entirety.”
According to the Financial Industry Regulatory Authority, Michael Ning holds 33 years of securities industry experience. Based in Scottsdale, Arizona, he has been a broker and an investment advisor with Arque Capital since 2005 and 2016, respectively. His past registrations include Empire Securities Corporation (El Segundo, California; 2009-2010), GBS Financial Corporation (Rolling Hills Estates, California; 2003-2006), Triquest Financial (Glendale, California; 1992-2001); Merrill Lynch (New York, New York; 1992), Oppenheimer & Company (New York, New York; 1990-1992), and Lehman Brothers (New York, New York; 1987-1990). His credentials include the passage of six securities industry qualifying exams: the General Securities Sales Supervisor Examination (Options Module & General Module), or Series 8; the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Georgia, Hawaii, Kansas, Massachusetts, New York, Oklahoma, and Texas. (Information current as of October 5, 2022.)
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