March 2019 – Incline Village, NV
According to publicly available records Richard Jay Bernstein (CRD# 1113777) , a registered stockbroker currently employed by Wells Fargo Clearing Services, disclose 2 pending and 6 prior customer disputes.
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 a prior customer dispute (case #95-03046) an arbitration panel awarded a customer of Smith Barney Shearson $91,200 to resolve allegations of unauthorized trading, misrepresentation, suitability and breach of fiduciary duty.
The currently pending matters include:
January of 2019, a Morgan Stanley Smith Barney customer filed FINRA case #19-00013 alleging unsuitability with respect to investment recommendations and is seeking damages of $175,500.
January of 2017, a Morgan Stanley customer filed FINRA case #17-00137 alleging unauthorized trading that conflicted with the client’s stated investment goals and is seeking damages of $81,738.
Bernstein has been employed by Wells Fargo Clearing Services since November 2016. He was previously employed with Morgan Stanley from April 2009 to July 2015. He was with USB Financial Services prior to that time.
If you have losses in an account handled by Richard J. Bernstein, contact us for a no charge consultation to learn how you may be entitled 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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