Last Updated: May 2024 (Houston, Texas)
Elias Aziz Letayf Investigation Summary
Here’s what you need to know about Houston, Texas, stockbroker Elias A. Letayf:
- Name: Mr. Eilas Aziz Letayf
- Current Employer: UBS Financial Services
- Previous Firms: Morgan Stanley, BBVA Securities
- Function: Stock Broker/ Financial Advisor
- Aliases: Elias Aziz, Elias A. Letayf
- Primary Location: Houston, Texas
- CRD 4545016
- Can Elias Aziz be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Pending Customer Dispute Seeks Damages of Unspecified Amount
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Elias Aziz Letayf As Your Stockbroker?
A customer of his former employer Morgan Stanley filed a customer dispute in 4/2024 alleging that Elias Aziz recommended investments for his account, as well as for his mother’s account, that were not in their best interest. The investment type is structured products. A damage amount has not yet been specified in this currently pending matter.
Earlier, while employed by BBVA securities, another customer complainted that recommendations to invest in structured products were not suitable. The company denied that claim and apparently the customer did not pursue the matter further. See below for our advice if a firm “denies” your claim.
[LEARN MORE]: Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
FINRA Rule 2111- suitability -Regulation Best Interest
Allegations of Broker Misconduct Against Elias Aziz Letayf
Customers of Elias Aziz have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Recommendation to invest in structured products that are not in the best interest of the customer
Structured Products: Sometimes referred to as market-linked investments, Structured Products are pre-packaged investments whose performance is linked to an underlying asset, product or index. ( a single security, basket of securities, options, indicies, commodities, debt issuance, foreign currencies or derivatives). See this for FINRA’s Investor Insights “Understanding Structured Notes with Principal Protection”
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.
Has Your Brokerage Firm “Denied” Your Claim for Damages Due to Stockbroker Malpractice?
It is quite common (and predictable as well) for brokerage firms to deny a customer’s complaint made directly to the company. Firms know that in many, if not most, instances telling the customer “we don’t think it’s our fault” will be the end to the problem.
Firms seldom, if ever, offer adequate resolution when a customer deals directly with the brokerage firm. In the unlikely event the firm does actually agree to discuss settlement , the firm will generally attempt to have you settle your case for a fraction of what it is worth.
If you think there is a problem with the way your account has been handled, or if you have had your claim “denied”, talk to an experienced securities attorney to learn your rights and to learn what the true value of your claim may be.
We do not charge to evaluate a case.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Elias Aziz Letayf, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.