Stoltmann Law Offices continues to investigate Patrick Combs, a former registered broker with Morgan Stanley. According to a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Combs was suspended for seven months and fined $7,500. Allegedly, from August 2012 until September of 2012, Combs effected a private securities transaction involving $500,000 of a firm customer’s funds. Combs also allegedly facilitated a meeting between an athlete and a customer of Morgan Stanley. Combs sold away from his firm, which is against securities rules. Selling away is a tactic used by brokers in order to generate commissions that they, themselves keep 100% instead of sharing them with their firm. If you lost money with Patrick Combs, his firm, Morgan Stanley, can be held liable for losses. Please call 312-332-4200 for a free consultation about your options. There is no obligation.
Combs was registered with Morgan Stanley in Houston, Texas from June 2005 until April 2007, Morgan Stanley in Arlington, Texas from April 2007 until June 2009, Morgan Stanley in Southlake, Texas from June 2009 until March 2016 and IMS Securities in Houston from March 2016 until April 2016. He has one customer dispute pending against him. He is suspended from the industry and currently not registered.
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