According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Jeffrey Hunter Smith allegedly resigned from his firm, Morgan Stanley, because he was under internal review relating to “his involvement with a trust held outside of the firm for a non-client family member,” and “his wife’s status as a beneficiary of a client’s account.” Allegedly, in December 2011 and March 2012, Smith borrowed $300,000 from two firms customers without receiving the firm’s approval to enter in to those loans. FINRA rule prohibits a registered representative from borrowing money from or lending money to a customer of his or her member firm employer. Smith also failed to respond to the FINRA inquiry against him, resulting in a permanent bar from the industry.
Smith was registered with Merrill Lynch in Williamsburg, Virginia from May 2002 until April 2009, Citigroup Global Markets in Williamsburg from April 2009 until June 2009, Morgan Stanley in Williamsburg from June 2009 until January 2015 and Wells Fargo Advisors in Williamsburg from February 2015 until June 2016. According to his online FINRA BrokerCheck report, he is not licensed within the industry and has been barred permanently. Please call our law offices in Chicago, Illinois today if you have suffered investment losses with Jeffrey Smith of Morgan Stanley. Morgan Stanley may be responsible for those monetary losses because of its failure to supervise Mr. Smith. The call to us is free so we can discuss your options. 312-332-4200. Please call soon as time is of the essence with these types of cases.
Disclaimer
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.
