Stock Broker Fraud Attorney David Chase from David R. Chase, P.A. is reviewing allegations of improper discretionary trading against former Los Angeles, CA-based Morgan Stanley broker Joel D. Davidman following a FINRA enforcement action against him that alleged such misconduct. According to FINRA’s BrokerCheck report, Morgan Stanley terminated Davidman as a result of allegations concerning his improper exercise of discretion in client accounts.
Davidman was employed by Morgan Stanley at its Beverly Hills, CA location from June 2009 until his discharge in June 2015. Since 2015, he has been registered and employed by Stifel, Nicolaus & Company Inc. also based in Los Angeles CA.
Improper discretionary trading takes place when a stock broker trades without the customer’s prior explicit permission and knowledge. At times, improper discretionary trading may be accompanied by churning. Churning, which takes place when a broker controls the account and trades excessively to generate commissions and fees for his own financial interests at the expense of the client, is a vicious form of stockbroker misconduct. A financial advisor’s employing brokerage firm is responsible for supervising its employee to detect and prevent such misconduct.
FINRA arbitration is a fast, efficient way to recover your lost investment funds due to stock broker misconduct. The Law Firm of David Chase works on a contingency fee basis, meaning you pay it nothing unless it recovers money for you.
If you invested with Joel Davidman and Morgan Stanley and have lost money doing so, you may be able to recover some or all of your losses by obtaining a qualified stock broker fraud attorney. Investment fraud lawyer David Chase is experienced in recovering investor losses due to stock broker and securities brokerage firm misconduct and mismanagement through FINRA arbitration.
The Law Firm of David Chase represents investors nationwide in cases to recover their investment losses. If you have questions about your ability to recover your investment losses, please contact David Chase for a free consultation at david@davidchaselaw.com or toll-free at (800) 760-0912.
