Category Archives: Unsuitable Investments

John Loughran-UBS Financial Broker-Discloses $500K Pending Customer Dispute-NYC

April 2021- New York, NY

According to publicly available records,   UBS Financial Services financial advisor John Loughran,  discloses a pending customer dispute and a prior settled 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.

In June of 2019, a customer of UBS filed FINRA case #19-01302- alleging unsuitability and misrepresentation regarding an options overlay strategy investment the unsuitability of  a recommendation to hold the strategy.   The alleged damages are $500,000.

Loughran  has been employed with UBS Financial Services, Inc. since July of 2017.   Before that time he was employed with Merrill Lynch, Pierce, Fenner & Smith.  

If you have losses in an account handled by John Loughran, 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

David Fenning-Morgan Stanley Broker-Discloses Settled 4 Customer Disputes and 1 Pending Customer Dispute-NY, NY

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Beliveau Bays-Former LPL Financial Stockbroker-Discloses Customer Complaints-Plano, TX

April 2021- Plano, TX

According to his FINRA record  Beliveau Bays, a financial advisor previously employed by LPL Financial and Woodbury Financial Services discloses 2 pending and 2 prior customer disputes and 2 terminations 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.

While employed by Woodbury Financial Services two customers complained that Bays had recommended unsuitable purchases of real estate investments. Both of those claims were denied and it appears from the public record that the customers did not proceed with the filing of arbitration.

There are two currently pending customer disputes, both of which allege that Bays affixed the customer’s signature to account documents. No specific damages are alleged.

In 2/2021 Beliveau Bays was discharged by LPL Financial. LPL alleged that Bays provided misrepresentations to the firm in response to inquiries surrounding Bays submission of key person life insurance applications.

Earlier in his career Bays was discharged by Merrill Lynch in 3/2016 who alleged that Bays traded in customer accounts without the customer’s authority.

If you have questions about  an account handled by Beliveau Bays of Bays Capital Management call for a no charge consultation with an experienced securities attorney.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870