If You Suffered Losses With Financial Advisor Chris Stocks Contact the Law Firm of KlaymanToskes
LOS ANGELES, CA, USA, August 6, 2024 /EINPresswire.com/ -- National investment loss and securities lawyers KlaymanToskes issues an important notice to customers of former Morgan Stanley financial advisor Chris Stocks (CRD
KlaymanToskes reports that the firm is investigating financial advisor Chris Stocks following his termination from Morgan Stanley and the filing of a regulatory complaint by FINRA. Stocks was previously employed with Morgan Stanley until December 2021, when he was discharged from the firm due to allegations of concerns regarding the representative’s participation and activities in an outside hotel investment in which clients of the firm were also invested.
On July 23, 2024, FINRA made a preliminary determination to recommend disciplinary action be brought against Chris Stocks alleging Violation of FINRA Rules 3270 and 2010 in that he failed to disclose outside business activities; Violation of FINRA Rules 3280 and 2010 in that he failed to provide written notice prior to participating in a private securities transaction; and Violation of FINRA Rule 2010 in that he provided false information on annual compliance attestations.
Private securities transactions (also known as “selling away”) are considered a violation of securities law, as financial advisors can only sell approved investments through the brokerage firm where they hold their securities licenses, and are required to disclose “outside business activities” to their firms. Chris Stocks is currently registered with Prospera Financial Services in Paradise Valley, AZ.
Financial advisors and their firms may be held liable for any losses incurred by their customers in the event of unsuitable investment recommendations, misrepresentations or omissions of material facts, and/or an overconcentration of the customer’s portfolio in one particular investment, class, or market sector. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making investment recommendations.
Current and former customers of financial advisor Chris Stocks who suffered investment losses are encouraged to contact attorney Steven D. Toskes at (888) 997-9956 or by email at [email protected] in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Steven D. Toskes, Esq.KlaymanToskes, P.A.+1 888-997-9956[email protected]
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August 06, 2024, 17:37 GMT
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