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How Investors Can Sue Former Morgan Stanley Financial Advisor Matthew Singer

Posted on Wednesday, May 9th, 2018 at 2:19 pm    

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Were you the victim of former Morgan Stanley financial advisor Matthew Singer (CRD# 4972708) who is alleged to make unsuitable recommendations? Singer has been registered with Morgan Stanley in Aventura, Florida from July 2013 to March 2016. Previously, he was registered with the following brokerage firms:

  • FBN Securities, Inc. in New York, New York (02/05/2013 – 07/08/2013)
  • Ascendiant Capital Markets, LLC in Irvine, California (01/24/2013 – 02/06/2013)
  • Capstone Investments in New York, New York (10/18/2011 – 01/09/2013)

In March 2018, FINRA barred Singer after he consented to the sanction and to the entry of findings that he refused to appear for FINRA on-the-record testimony in connection with its 2016 investigation into whether Singer and others made unsuitable options recommendations to customers.

Singer has been the subject of three customer complaints between 2015 and 2016, one of which was denied, according to his CRD report:

December 2016. “The claimant alleged, inter alia, unauthorized trading and misrepresentation with respect to option investments – May 2015 to January 2016.” The customer sought $150,000 in damages and the case was settled for $60,000.

October 2015. “Claimants allege, inter alia, that beginning in June 2015 the FA recommended investments that were not suitable for their level of risk.” The customer sought $371,011 in damages and the case was settled for $365,000.

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 Singer’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.