Erez Law is currently investigating former Morgan Stanley broker William Beasley (CRD# 1750089) regarding stock losses. He has been registered with BHK Securities, LLC and BHK Investment Advisors in Birmingham, Alabama, since 2021. Previously, he was registered with Morgan Stanley in Birmingham, Alabama, from 2009 to 2021, when he was terminated regarding, “Allegations that the representative submitted transactions under production numbers that were inconsistent with agreements with other representatives resulting in a shortfall of revenue credited to the other representatives.”
In May 2022, FINRA suspended him for one month and ordered to pay a $2,500 civil and administrative penalty and fine, after he “consented to the sanctions and to the entry of findings that he caused his member firm to maintain inaccurate books and records by changing the representative code for trades, causing the trade confirmations to show an inaccurate representative code.” FINRA found that he “entered into an agreement through which he agreed to service certain customer accounts, including executing joint trades for those accounts, under a joint representative code that he shared with the estate of a retired representative.” This allegedly resulted in the broker receiving higher commissions from the trades than what he was entitled to receive.
William Beasley Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
June 2023. “Client alleges, inter alia, FA did not act in claimant’s best interest with respect to the management of client’s account Nov 2018- May 2021.” The case is currently pending. The complaint was regarding common and preferred stocks.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Morgan Stanley may be liable for investment or other losses suffered by William Beasley’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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