The human handshake over the legal agreement.

Laurence Michael Braunstein of New York New York a stockbroker registered with Janney Montgomery Scott LLC is the subject of a customer initiated investment related arbitration claim which was resolved for at least $14,999.00 in damages based upon accusations that when Braunstein was associated with Morgan Stanley, First Allied Securities and Janney Montgomery Scott: (1) false or misleading statements had been made to the customer concerning investments including unit investment trust and direct investment products (2) contractual obligations were breached (3) the customer’s account had been handled with poor care (4) fiduciary obligations were violated and (5) unsuitable transactions were executed in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02537 (May 30, 2019).

FINRA Public Disclosure confirms that Braunstein is referenced in five additional customer initiated investment related disputes containing allegations of his violative conduct while employed with First Allied Securities Inc. and Morgan Stanley Smith Barney. Specifically, a customer initiated investment related arbitration claim concerning Braunstein’s activities was settled for $490,316.00 in damages founded on accusations including fraud; breach of fiduciary duty; and violation of New Jersey Consumer Fraud Act.

Another customer initiated investment related arbitration claim regarding Braunstein’s conduct was resolved for $125,000.00 in damages based upon allegations that during the period in which Braunstein was employed by First Allied Securities, unfounded statements and omissions had been made concerning unit investment trust and mutual fund risks; fiduciary duties owed to the customer were breached; and transactions failed to be suitable for the customer.

Braunstein is also referenced in a customer initiated investment related written complaint which was settled to resolve accusations that when Braunstein was associated with Morgan Stanley Smith Barney, unauthorized unit investment transactions were effected in the customer’s account. An additional customer initiated investment related complaint concerning Braunstein’s activities was resolved for $25,000.00 in damages founded on allegations that misrepresentations had been made concerning the risks of investing in closed end funds and unit investment trust products.

On June 1, 2017, another customer initiated investment related arbitration claim involving Braunstein’s conduct was settled for $24,900.00 in damages based upon accusations that during the time that Braunstein was associated with Morgan Stanley, closed end fund, mutual fund and unit investment trust transactions executed in the customer’s account failed to be suitable for the customer. FINRA Arbitration No. 16-02557.

Braunstein was terminated by Morgan Stanley founded on allegations that he effected inappropriate exchanged traded fund and unit investment trust trades in customer accounts. He has been registered with Janney Montgomery Scott since May 13, 2015.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to:  [email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation.

 (877) SEC-ATTY

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