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Erez Law is currently investigating former Morgan Stanley financial advisor Tom Abel Puentes (CRD# 1713812) regarding time and price discretion in customer accounts to purchase municipal bonds. Puentes was registered with Morgan Stanley in Langley Washington from 2009 to 2014 … Continue reading
In the securities industry, churning occurs when an advisor excessively trades in a client’s account for the purpose of earning commissions. The practice is illegal in the United States under SEC rules. While the practice may benefit the advisor, it … Continue reading
Erez Law is currently investigating Morgan Stanley financial advisor Barry Franklin Connell (CRD# 3070984) regarding fraud charges in which he is alleged to have misappropriated $5 million from his clients and have made more than 100 unauthorized transactions. Connell was … Continue reading
Erez Law is currently investigating WFG Investments, Inc. financial advisor Stuart Graham Dickinson (CRD# 1047824) regarding unsuitability of investment recommendations and lack of due diligence. Dickinson was registered with WFG Investments in Highland Park, Texas from 2005 to 2013. WFG … Continue reading
When you are taking steps to recover fraudulent investment losses from a broker or firm, you have three major options for action: mediation, arbitration, and litigation. All three options have advantages and disadvantages, though one may be better than the … Continue reading
Ponzi schemes have existed in the world for over one hundred years, even before Ponzi himself lent his name to the practice. It has survived throughout the decades for one simple reason: the scam lures investors by offering investors high, … Continue reading
Financial Industry Regulatory Authority (FINRA) fined Morgan Stanley $115,000 and ordered them to pay restitution to investors in the total amount of $55,284.28 plus interest over findings that the brokerage firm sold municipal securities, including Puerto Rico bonds, to its customers … Continue reading
The standard broker-customer agreement usually states that disputes between the client and broker, including claims of fraud, will be settled through arbitration rather than litigation. This arbitration, which will be filed with FINRA (Financial Industry Regulatory Authority), does not involve … Continue reading
In January 2017, former UBS Financial Services, Inc. and UBS Financial Services, Inc. of Puerto Rico clients won an award in a FINRA arbitration for compensatory damages in the amount of $9,630,000 plus interest and $4,000,350 in punitive damages for … Continue reading
Erez Law filed a claim against UBS Financial Services Inc. financial advisor Margaret Mary Lech-Loubet (CRD# 1564472) regarding her recommendations of high risk and unsuitable investments in proprietary structured products tied to the energy sector. Erez Law recently filed a … Continue reading