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The law firm of Oakes & Fosher is currently investigating the possible misconduct of former securities broker Anthony Verzi. According to his publicly available FINRA BrokerCheck report, Anthony Verzi has been the subject of a FINRA sanction.

Anthony Verzi was a Florida-based securities broker. He worked in the securities industry for thirty-two years. He spent his entire career registered with Morgan Stanley. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Morgan Stanley DW (1983-2007)
  • Morgan Stanley & Co. (2007-2009)
  • Morgan Stanley (2009-2016)

The Allegations

Anthony Verzi was officially sanctioned by FINRA in June 2017. The findings in this matter state that he refused to appear for on-the-record testimony requested by FINRA during an investigation into his possible unsuitable trading of unit investment trusts in customer accounts. Due to his failure to comply, he was barred from acting as a securities broker in any fashion.

What Does This Mean?

Securities brokers have a duty to their customers to always act in their best financial interests. This is their duty as a fiduciary. This means that brokers can only recommend investments that their customers are actually suited for. Brokers like Anthony Verzi can determine if a particular investment is suitable for their customer by looking at various different factors provided to them by the customer. This includes the customer’s investment objectives, financial situation, liquidity needs, and risk tolerance. Brokers who invest their customers contrary to these needs have either done so in a fraudulent manner, placing their own financial interests ahead of their customer’s, or in a negligent one. Regardless if the broker’s intent was fraudulent or negligent, managing a customer’s account unsuitably disqualifies them from the ability to perform their duties in the required manner.

Oakes & Fosher Can Help

Many people are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Anthony Verzi, please contact Oakes & Fosher for a free and private consultation.