David Jeffrey Morris Investigation
June 2023-Chicago, IL
According to publicly available records David Jeffrey Morris a former broker who last worked for Stifel, Nicolas & Company, discloses a final regulatory matter resulting in a permanent bar from the industry and a pending customer suit.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 5/2023, Morris failed to respond to FINRA requests for information in connection with a regulatory investigation. As a result of these findings, Morris was permanently barred from FINRA in all capacities.
In FINRA Case 17-361, Morris’ prior employer, UBS Financial, alleged that Morris failed to repay loans made him by in connection with his employment. Morris stipulated to the entry of an award stating that he would pay UBS Financial damages, interest and attorney totaling over $1.1 million. In 3/2022, Morris failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. The sanctions were an indefinite suspension.
In 9/2022, a Stifel, Nicolaus customer alleged violations of Illinois Securities Laws, FINRA rules, common law fraud, breach of fiduciary duty, breach of contract and negligence. The customer is seeking damages are $480,000. The case is currently pending.
Morris was with Stifel, Nicolaus & Company from 8/2016 until 5/2022. Before that time he was with UBS Financial Services, J.P. Morgan Securities, Banc of America Invesment Services and Morgan Stanley.
If you have suffered losses in an account handled by David J. Morris contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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