Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on July 17, 2016 indicate that California-based Morgan Stanley broker/adviser Howard Lee is the subject of pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Lee (CRD# 305269).
Howard Lee has spent 51 years in the securities industry and has been registered with Morgan Stanley in Westlake Village, California since 2010. Previous registrations include UBS Financial Services in Westlake Village, California; Bear Stearns & Company in New York, New York; and Lehman Brothers. He is a registered broker and investment adviser with 22 US states and territories: Arizona, California, Colorado, Connecticut, Florida, Hawaii, Idaho, Illinois, Iowa, Massachusetts, Missouri, Nevada, New Hampshire, New York, North Carolina, Ohio, Oregon, Texas, Utah, Virginia, Washington, and Wyoming.
According to his BrokerCheck report, Howard Lee has received two pending customer complaints.
In May 2016, a customer alleged Howard Lee, while employed at Morgan Stanley, recommended unsuitable investments and executed unauthorized trades. The customer is seeking $175,000 in damages in the pending complaint.
In October 2015, a customer alleged Howard Lee, while employed at Morgan Stanley, recommended unsuitable investments. The customer is seeking $2,700,000 in damages in the pending complaint.
Both FINRA rules and federal securities law prevent investment professionals like Howard Lee from executing transactions without a customer’s permission or authorization. There are some exceptions, including discretionary accounts and, in some circumstances, margin accounts. Brokers, investment advisers, and broker-dealer firms who effect unauthorized trades may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Howard Lee, you may be able to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.