April 2021- New York, NY
According to publicly available records David W. Fenning (CRD#1005307), a stockbroker who works for Morgan Stanley Smith Barney discloses 4 settled customer disputes and 1 pending customer dispute.
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.
From July of 1997 until July 2011, four customer disputes were filed by customers of UBS Financial Services, Inc. – Fenning’s previous employer – alleging among other things, unsuitable recommendation and misrepresentations in connection with purchase of structured products, notes and preferred stock, breach of fiduciary duty, negligence, fraud and unauthorized trades and transactions. These cases were cumulatively settled for $369,000.
In May of 2020, FINRA case #20-01343 was filed by a customer of UBS Financial Services, Inc., alleging unsuitability and negligence with respect to recommendations of investment of accounts. The alleged damages are $173,000 .
Fenning has been employed with Morgan Stanley Smith Barney since May of 2019. Before that he worked with UBS Financial Services, Inc.
If you had an account with David Fenning that suffered losses, you may be entitled to collect damages from his prior employer. Call to discuss your options.
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.
Florida-561 391 1900