The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Morey Goldberg. According to his publicly available FINRA BrokerCheck report, Morey Goldberg has been the subject of a FINRA sanction.
Morey Goldberg was a Pennsylvania based securities broker. He worked in the securities industry for twenty-eight years. During his career, he was registered with two different securities firms. He is not currently working as a registered securities broker.
His Registrations
- CMS Investment Resources (1988-2014)
- M. Holdings Securities (2014-2017)
The Allegations
Morey Goldberg was officially sanctioned by FINRA in May 2018. The findings in this matter state that he allegedly took part in outside business activities without providing written notice to his firm in a timely manner. The findings also state that he distributed to potential customers a presentation regarding a private placement offering that was not fair and balanced. Due to these allegations, he was fined $10,000 and suspended from acting as a securities broker in any fashion for a period of 45 days.
What Does This Mean?
Securities brokers are not allowed to engage in business ventures outside their member firm’s scope without first obtaining the firm’s authorization to do so. This is because it can very easily lead to brokers recommending private investments to member firm customers even if said customers are woefully unsuited for said investments. This is a result of the conflicts of interest that might exist due to these privately traded securities.
Oakes & Fosher Can Help
Many investors 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 Morey Goldberg, please contact Oakes & Fosher for a free and private consultation.
