Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on February 23, 2016 state that New Jersey-based Morgan Stanley broker/adviser Richard Reiss is the subject of a customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Reiss (CRD# 1004733).
Richard Reiss has spent 34 years in the securities industry and has been registered with Morgan Stanley in Short Hills, New Jersey since 2009. Previous registrations include Morgan Stanley & Company in Short Hills, New Jersey (2008-2009); Merrill Lynch in Short Hills, New Jersey (1991-2008); Dean Witter Reynolds in Purchase, New York (1987-1991); Kidder Peabody & Company (1985-1987); Brever Bresler & Schulman (1983-1985); and Hanauer Stern & Company (1981-1983). He is a registered broker and investment adviser with 22 US states and territories.
According to his BrokerCheck report, Richard Reiss is the subject of one customer complaint, one dismissed customer complaint, and one closed customer complaint.
In 2009 a customer alleged Richard Reiss, while employed at Morgan Stanley & Company, misrepresented material facts related to the liquidity of auction rate securities. The complaint settled in 2010 for $11,300,000.
In 2002 a customer alleged Richard Reiss, while employed at Merrill Lynch, “unsuitably invested their accounts and over-concentrated the accounts in technology and telecommunications stocks.” The customer sought unspecified damages in the complaint, which was dismissed.
In 2000 a customer alleged Richard Reiss, while employed at Merrill Lynch, made an unsuitable investment recommendation and failed to follow instructions. The customer sought $35,000 in damages in the complaint, which was closed.
If you or someone you know has complaints regarding Richard Reiss, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.