Gregory Sain Investigation
June 2023 – Beverly Hills, CA
According to publicly available records Gregory Sain , a broker who was previously registered with Stifel Nicolaus and is now with Morgan Stanley, discloses settlements of 2 customer disputes.
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.
In 3/2023, a Stifel, Nicolaus customer alleged that Sain recommended positions (preferred stock of limited partnership) that were not in line with the customers’ risk profile or instructions. Time frame February 2021 to April 2022. The case settled for $26,250.
In 9/2005, a customer of one of Sain’s prior employer, Stone & Youngberg, alleged suitability of transactions involving CMOs. The case settled for $58,500.
Sain has been employed by Morgan Stanley since 3/2022. Before that he was with Stifel, Nicolaus & Company, Incorporated.
If you have losses in an account that was handled by Gregory Sain contact us for a no charge consultation to learn how you may be entitled to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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