The law firm of Oakes & Fosher is currently investigating the alleged misconduct and/or negligence of former securities broker Stuart Henley. According to his publicly available FINRA BrokerCheck report, Stuart Henley has multiple marks on his record that include a customer complaint, an employment termination, and a FINRA sanction.
Stuart Henley was most recently working as a Florida based securities broker. He worked in the securities industry for thirty-two years. During his career, he was registered with five different securities firms. He is no longer working as a registered securities broker in any fashion.
- IDS Marketing Corporation (1985-1986)
- Lehman Brothers, Inc. (1986-1991)
- Painewebber Incorporated (1991-1999)
- Morgan Stanley (1999-2018)
- Calton & Associates (2018)
- In September 2016, a customer alleged that Stuart Henley excessively traded their account to generate commissions for himself. This is a process also known as churning. This case was settled for $800,000 in damages
- In March 2018, Stuart Henley was discharged from his position at Morgan Stanley. This termination followed allegations that he exercised discretion without the adequate authorization from the customer or the member firm. He was eventually sanctioned by FINRA due to the allegations in May 2019. Due to the allegations, he was suspended by FINRA from acting as a securities broker in any fashion for a period of thirty business days. He was also fined $5,000.
What Does This Mean?
Like stated above, churning takes place when securities brokers excessively execute trades in a customer’s brokerage account with the express purpose of generating commissions for themselves. Unfortunately, churning is more common than many investors would like to believe. Although the process constitutes as securities fraud, many brokers still believe they can get away with it by disguising it as regular trading. Investors that believe they have lost money due to securities brokers churning their account may be entitled to damages.
Oakes & Fosher Can Help?
Many investors are still unaware of the legal recourse available to them after losing money due to securities broker negligence or fraud. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation who have lost money in this fashion. If you, or someone you know, have lost money investing with Stuart Henley, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.