Suitability Concerns Due to Recommendations by Morgan Stanley broker Barry Pechenik?
Posted on Friday, July 3rd, 2020 at 8:12 am
Erez Law is currently investigating Morgan Stanley broker Barry Pechenik (CRD# 1720138) regarding unsuitable investment recommendations. Pechenik has been registered with Morgan Stanley in Dallas, Texas since 2015.
Pechenik has been the subject of one customer complaint, according to his CRD report:
February 2019. “Claimant alleges, inter alia, unsuitability with respect to recommendation for managed account strategy – Feb 2017 to Jan 2019.” The customer is seeking $1 million in damages and the case is currently pending. The complaint was regarding managed/wrap accounts.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Morgan Stanley may be liable for investment or other losses suffered by Pechenik’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.