CEO Michael Cheng Ning of Arque Capital Suspended
Summary
Arque Capital Censured for Failure to Comply With FINRA & SEC Requirements National investment loss lawyers KlaymanToskes reports Arque Capital, Ltd. and former CEO/owner Michael Cheng Ning (CRD# 1229733) failed to comply with several FINRA and SEC rules and requirements, leading to the firm’s censure and fine of $50,000, and Ning’s 7-month suspension and $15,000 fine. According to FINRA’s Department of Enforcement, between March 2019 and May 2020, Arque Capital and former CEO Michael Ning failed to comply with four interrelated financial compliance requirements. Arque Capital and Michael Cheng Ning are also currently facing a customer complaint which alleges $1,700,000 in damages due to unsuitable investment recommendations in GWG L Bonds. GWG filed for Chapter 11 bankruptcy as a debtor in possession in April 2022, however, investors can contact KlaymanToskes to discuss other recovery options. According to FINRA’s Department of Enforcement, between March 2019 and May 2020, Arque Capital failed to comply with at least four interrelated financial compliance requirements with regulators, including the following: 1.