Securities Lawyers Blog

Broker Frank Auyeung in Morgan Stanley Firm Has Customer Complaint

September 20, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on February 16, 2023.

Claimant alleged, inter alia, that the investments strategy executed in the client’s account was unsuitable 2013-2023

There are Recent Customer Complaints with Broker Clifford Reid in Firm Reid & Rudiger LLC

September 20, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Clifford Reid (Reid), currently associated with Reid & Rudiger LLC, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Reid concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a pending customer complaint on February 14, 2023.

Customer alleged sales practice viiolations including unsuitability, excessive trading and commissions, failure to supervised and breach of fiduciary duty.

Broker Paul Hauser in Merrill Lynch, Pierce, Fenner & Smith Incorporated Firm Has Customer Complaint

September 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Paul Hauser (Hauser), previously associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Hauser 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 February 20, 2023.

Unsuitability, misrepresentation/omission

There are Recent Customer Complaints with Broker James Lyons in Firm Raymond James & Associates, INC.

September 20, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on February 15, 2023.

Plaintiffs allege FA engaged in unauthorized trading, misrepresented to Raymond James that the trading was authorized, and concentrated their accounts in risky oil and gas securities.

Broker Marvin Schwartz in Neuberger Berman Bd LLC Firm Has Customer Complaint

September 20, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on February 16, 2023.

Complainant is a brokerage and discretionary investment advisory client of the firm. Complainant alleges that beginning in May 2021, his registered representative and investment adviser representative (who are the same person) failed to follow instructions regarding financing options for the acquisition of art and certain securities transactions, which securities transactions he further alleged were unsuitable.

There are Recent Customer Complaints with Broker John Jamieson in Firm Fidelity Brokerage Services LLC

September 19, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Jamieson (Jamieson), currently associated with Fidelity Brokerage Services LLC, has at least one disclosable event. These events include one customer complaint, alleging that Jamieson 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 $15,174.00 on February 22, 2023.

Customer alleged that the representative did not disclose the taxability of changing investment products.

Broker Adam Claussen in Bankers Life Securities, INC. Firm Has Customer Complaint

September 19, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Adam Claussen (Claussen), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Claussen 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 $13,078.51 on February 23, 2023.

When your financial advisor is providing advice they must adhere to the SEC’s Regulation Best Interest (Reg BI) rule and standard of care. Reg BI replaced the former “suitability” rule and created a ‘best interest’ standard for brokerage firms and registered representatives. This standard applies when a registered representative is providing investment advice through making recommendations customers and covers securities transaction, investment strategies, and recommendations concerning advice on opening of an account or accounts. Reg BI applies when brokers recommend a retail investor engage in securities transaction or an investment strategy involving one or more securities. Reg BI also applies to financial advice concerning the transfer of funds and opening of accounts.

Broker Joshua Nix in Edward Jones Firm Has Customer Complaint

September 19, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on February 21, 2023.

Client alleges FA liquidated her account without her authorization.

Broker Jeffrey Tooke in Four Points Capital Partners LLC Firm Has Customer Complaint

September 19, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Jeffrey Tooke (Tooke), currently associated with Four Points Capital Partners LLC, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Tooke concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $316,769.50 on February 23, 2023.

Tooke was named collectively as a respondent, but not individually, in a customer complaint that asserted the following causes of action: suitability, churning, failure to supervise, breach of fiduciary duty, breach of contract, unauthorized trading, negligence, misrepresentation, and omission of facts.

There are Recent Customer Complaints with Broker Ervie Houston in Firm LPL Financial LLC

September 19, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ervie Houston (Houston), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Houston 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 $105,000.00 on February 23, 2023.

Client alleges the FP recommended an unsuitable investment strategy. This strategy included high commission, speculative, and illiquid alternative investments.