November 2020- Tampa, FL
According to publicly available records Stuart Henley (CRD#1368973), a former stockbroker who last worked for Harmony Asset Management, discloses a regulatory event, a final 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 May of 2019, FINRA case #2018057441201 alleged that Henley exercised discretion in an elderly customer’s account without receiving acceptance of the account as discretionary by his member firm. The findings stated that although Henley had been given express or implied authority to exercise discretion in the account, the customer did not provide written authorization for him to exercise discretion. The findings also stated that Henley provided inaccurate responses on annual compliance questionnaires submitted to the firm by falsely indicating that he not exercise discretion in any customer account. Sanctions were a 30 day suspension and a fine of $5,000.
In August of 2016 a customer of Henley‘s previous employer Morgan Stanley Wealth Management, alleged inter alia that Henley churned his account in order to generate commissions. That case settled for $800,000. FINRA Case 16-2747.
In March of 2018, Henley was discharged from employment from Morgan Stanley Wealth Management after allegations that he had executed transactions for a non-discretionary client account without speaking with the client on the date of the trade in all cases.
Henley last worked for Calton & Associates from June 2018 until August 2018. Prior to that he was with Morgan Stanley Wealth Management. He also discloses a business affiliation with Harmony Asset Management.
If you had an account with Stuart Henley 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.
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