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Mike Hamilton: SEC Brings Charges Against Hamilton Wealth Advisor
Fort Myers financial advisor Mike Hamilton (CRD# 2038138) allegedly may have violated the Securities Exchange Act of 1934, according to a pending enforcement action recently filed by the Securities and Exchange Commission. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Centaurus Financial, doing business as Hamilton Wealth Management.
Mr. Hamilton’s BrokerCheck report discloses the SEC enforcement action against him. It alleges that as a Centaurus Financial representative, he potentially violated Rule 151-1(a) of the Securities Exchange Act of 1934, also known as Regulation Best Interest, by failing to comply with the Regulation’s Care Obligation. As FINRA explains, this obligation requires that brokers “have a reasonable basis to believe that each recommendation or series of recommendations made is in the best interest of the particular retail customer and does not place their financial or other interests ahead of the interest of the retail customer.” The action against Mr. Hamilton remains pending.
His BrokerCheck report also discloses an investor complaint. Filed in 2006, it alleged that as a representative of Raymond James & Associates, he breached contract, breached his fiduciary duty, made misrepresentations of material facts, recommended unsuitable investments, and acted negligent. In 2007 the complaint reached a settlement of $5,000.
According to the Financial Industry Regulatory Authority, Mike Hamilton holds 31 years of securities industry experience. Based in Fort Myers, Florida, he has been a broker and an investment advisor with Centaurus Financial since 2015. His past registrations include JP Turner & Company (Fort Myers, Florida; 2010-2015), Gunnallen Financial (Fort Myers, Florida; 2009-2010), Raymond James & Associates (Fort Myers, Florida; 2001-2009), Prudential Securities (New York, New York; 1996-2001), Smith Barney (New York, New York; 1993-1996), Lehman Brothers (New York, New York; 1993), and Prudential Securities (New York, New York; 1992-1993). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, Delaware, Florida, Georgia, Illinois, Indiana, Maine, Michigan, New Hampshire, New Jersey, New York, Oklahoma, Pennsylvania, Texas, and West Virginia. (Information current as of October 2, 2023.)
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