(CRD #2824966, Staten Island, New York)

April 1, 2025 – An AWC was issued in which Dugan was suspended from association with any FINRA member in all capacities for seven months. In light of Dugan’s financial status, no monetary sanction has been imposed. Without admitting or denying the findings, Dugan consented to the sanction and to the entry of findings that he willfully violated the Best Interest Obligation under Reg BI by recommending to retail customers a series of trades that were excessive, unsuitable, and not in the customers’ best interests. The findings stated that the customers, a retiree and a 65-year-old, relied on Dugan’s advice and routinely followed his recommendations and, as a result, Dugan exercised de facto control over the accounts. Dugan’s trading in the customers’ accounts generated a total of $143,217 in commissions and caused a total of $216,772 in realized losses. The suspension is in effect from May 5, 2025, through December 4, 2025. (FINRA Case #2018056490327) If you have suffered losses as a result of Michael Joseph Dugan's act and/or actions, we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Michael Joseph Dugan. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-618-0545 or email Matthew Schwartz directly at mschwartz@tslfirm.com.