Warning to Investors: Excessive Trading with Morgan Stanley Financial Advisor Peter Lewis
Posted on Thursday, May 17th, 2018 at 7:27 am
There are options for customers of Morgan Stanley financial advisor Peter Lewis (CRD# 1174949) who is alleged to engage in excessive trading. Lewis has been registered with Morgan Stanley in Las Vegas, Nevada since 2009.
Lewis has been the subject of two customer complaints between 2015 and 2018, according to his CRD report:
March 2018. “Claimant alleged, inter alia, Excessive Trading with respect to investments -2017 to Feb 2018.” The customer is seeking $540,000 in damages and the case is currently pending.
December 2015. “Client verbally alleged failure to follow instructions with respect to the liquidation of an equity stock in trust account – May 2014.” The case was settled for $32,048.86.
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 Lewis’ 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.