Timothy J. Prouty Investigation
November 2021- Albuquerque, NM
According to publicly available records, Timothy J. Prouty, a broker previously employed with Morgan Stanley discloses a large arbitration award to a former customer and a termination from employment.
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 5/2019 a FINRA arbitration panel awarded $519,089 to a former customer of Morgan Stanley who alleged that Prouty made unsuitable recommendations to invest in junk bonds, exchange traded funds (ETFs) that invested in derivatives and futures contracts, and option contracts.FINRA Case 16-3473.
Prouty began working for Morgan Stanley in 8/2009 and was discharged in 11/2020 for violating company policy.
If you have losses in an account handled by Timothy J. Prouty, call 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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