Doug McKelvey Investigation
September 2022-Southlake, TX
According to publicly available records Douglas M. McKelvey a former broker who was employed by Morgan Stanley , discloses a recent regulatory matter, a prior customer dispute , a pending customer dispute 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 8/2022 FINRA permanently barred McKelvey from the securities industry in all capacities to resolve allegations that he refused to provide information and documents to FINRA in connection with their investigation about his discharge from Morgan Stanley over concerns regarding his unauthorized activity and misappropriation of client funds from client accounts, which were held by his relatives.
In FINRA case #22-0950, a Morgan Stanley customer alleges that McKelvey misappropriated funds from their account from 2016-2022. Damages are not specified.
Doug McKelvey was with Morgan Stanley from6/2009 until 4/2022 when he was discharged after allegations of unauthorized activity and misappropriation of funds.
If you have suffered losses in an account handled by Doug McKelvey, 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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