Reg BI

Broker Daniel King in Emerson Equity LLC Firm Has Customer Complaint

August 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel King (King), currently associated with Emerson Equity LLC, has at least 2 disclosable events. These events include 2 regulatory events, alleging that King recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on January 02, 2024.

On July 17, 2023, FINRA accepted a Letter of Acceptance, Waiver, and Consent in which King, without admitting or denying them, consented to the entry of findings that he violated FINRA Rules 2111 and 2010 during the period December 2016 to February 2019 by recommending the unsuitable use of margin to effect trades in the accounts of two customers who were not sophisticated investors; that he recommended the use of margin in his customers’ accounts to leverage additional buying power while also employing a short-term trading strategy; and that his unsuitable recommendations caused the customers to pay more than $46,000 in commissions, fees, and margin interest. Such conduct constitutes unethical practices in the securities business.

There are Recent Customer Complaints with Broker William Rankin in Firm Woodmen Financial Services, INC.

August 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Rankin (Rankin), previously associated with Woodmen Financial Services, INC., has at least one disclosable event. These events include one regulatory event, alleging that Rankin recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on December 19, 2023.

Without admitting or denying the findings, Rankin consented to the sanction and to the entry of findings that he refused to produce information and documents as requested by FINRA in connection to its investigation of allegations made on Form U5 submitted by his member firm. The findings stated that his Form U5 disclosed that a customer had alleged that Rankin recommended the liquidation of an IRA without notifying her of the tax ramifications.

Broker Pawan Passi in Morgan Stanley & CO. LLC Firm Has Customer Complaint

August 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Pawan Passi (Passi), previously associated with Morgan Stanley & CO. LLC, has at least one disclosable event. These events include one regulatory event, alleging that Passi recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on January 12, 2024.

The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted pursuant Sections 15(b) and 21C of the Securities Exchange Act of 1934 (‘Exchange Act’) against Pawan Kumar Passi (‘Passi’ or ‘Respondent’). The Commission finds that this matter involves fraudulent conduct perpetrated by Pawan Passi, formerly the head of Morgan Stanley & Co. LLC’s (‘Morgan Stanley’) Equity Syndicate Desk in the Americas (‘Syndicate Desk’), involving large blocks of stock that the investment banking firm purchased from investors in such securities (the ‘selling shareholders’). From at least June 2018 through August 2021 (the ‘Relevant Period’), Passi disclosed to certain buy-side investors non-public, potentially market-moving information, concerning impending ‘block trades’ that the firm had been invited to bid on or was in the process of negotiating with the selling shareholders. Those buy-side investors used such information to ‘pre-position’-or take a short position in-the stock that was the subject of the upcoming block trade. Such disclosures by Passi violated the selling shareholders’ expectations of-and, in certain instances, express requests for-confidentiality conveyed to the Syndicate Desk, representations of confidentiality made by the Syndicate Desk, and/or Morgan Stanley’s policies regarding the treatment of confidential information. As a result of his conduct, Passi willfully violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.

Broker Gianluca De Berardinis in Morgan Stanley Firm Has Customer Complaint

August 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gianluca De Berardinis (De Berardinis), previously associated with Morgan Stanley, has at least one disclosable event. These events include one regulatory event, alleging that De Berardinis recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on December 12, 2023.

Respondent De Berardinis failed to respond to FINRA requests for information.

There are Recent Customer Complaints with Broker Philip Stair in Firm Morgan Stanley

August 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Philip Stair (Stair), currently associated with Morgan Stanley, has at least one disclosable event. These events include one customer complaint, alleging that Stair recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $400,000.00 on December 11, 2023.

Claimant alleges, inter alia, misrepresentation with respect to failure to disclose the risks associated with corporate bond investments – 2022

There are Recent Customer Complaints with Broker Stephen Kwan in Firm Madison Avenue Securities, LLC

August 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Stephen Kwan (Kwan), previously associated with Madison Avenue Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Kwan recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on November 29, 2023.

Claimants allege unsuitable recommendations of alternative investments, primarily in NorthStar Healthcare REIT. The dates vary for the numerous claimants listed.

Broker Jason Pirnie in UBS Financial Services INC. Firm Has Customer Complaint

August 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jason Pirnie (Pirnie), previously associated with UBS Financial Services INC., has at least one disclosable event. These events include one regulatory event, alleging that Pirnie recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on January 04, 2024.

Respondent Pirnie failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

There are Recent Customer Complaints with Broker Raymond Clark in Firm Alexander Capital, L.p.

August 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Raymond Clark (Clark), previously associated with Alexander Capital, L.p., has at least one disclosable event. These events include one regulatory event, alleging that Clark recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on December 20, 2023.

Clark is the subject of an order of a self-regulatory organization expelling him from a self-regulatory organization.

There are Recent Customer Complaints with Broker David Turk in Firm Equitable Advisors, LLC

August 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Turk (Turk), currently associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Turk recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $202,624.47 on November 28, 2023.

Client alleges RR Turk made misrepresentations in connection with an annuity purchased in 2007.

Broker Randy Cox in Osaic Wealth, INC. Firm Has Customer Complaint

August 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Randy Cox (Cox), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Cox recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $100,000.00 on November 28, 2023.

The Claimant alleges that the financial professtional sold him an alternative investment that was unsuitable.