Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating multiple claims that advisor Michael Mackay (Mackay) has engaged in the sale products not approved by his brokerage firm. Mackay, formerly registered with Transamerica Financial Advisors, Inc. (Transamerica) out of Cincinnati, Ohio has been accused by at least one customer of engaging in unapproved activity. In addition, Mackay disclosed that he has several tax liens totaling over $50,000.
In January 2019 Transamerica terminated Mackay after alleging that the firm received allegations from two customers that the Mackay had referred them to an outside investment opportunity that was not approved by the firm.
Mackay’s FINRA disclosures state that Mackay has several outside business activities including Mackay & Associates, The Homexchange, and WFG.