There are options for customers of former Morgan Stanley broker Jeffrey Kemp (CRD# 2263257). Kemp has been registered with Janney Montgomery Scott LLC in Melville, New York since 2015. Previously, Kemp was registered with Morgan Stanley in Melville, New York from 2009 to 2015.
Kemp has been the subject of two customer complaints between 2007 and 2020, one of which was denied, according to his CRD report. The most recent complaint is regarding:
July 2020. “Claimant alleges against Respondent Morgan Stanley, inter alia, unsuitability with respect to equity and closed end funds securities (time period Dec, 2014 – Jun, 2015); and, unsuitable high yield securities while on margin against Respondent Janney.” The customer is seeking $1,196,000 in damages and the case is currently pending. The complaint was regarding common and preferred stocks and Closed-End Funds (CEFs) and took place while Kemp was registered with Morgan Stanley.
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 Kemp’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.