Frank Fornshell Venable III of Knoxville Tennessee a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages supported by accusations of excessive trading of the customer’s investments including (a) structured products (b) unit investment trusts and (c) mutual funds. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02833 (Oct. 25, 2017).
FINRA Public Disclosure reveals that Venable has been identified in four additional customer initiated investment related disputes containing allegations of his violative conduct while employed with J.J.B. Hilliard, W.L. Lyons, Inc. and J.C. Bradford & Co. Specifically, a customer filed an investment related complaint regarding Venable’s activities where the customer sought $7,096.00 in damages based upon accusations that Venable churned the customer’s account, executed transactions in the customer’s account that were not suitable for the customer, and caused the customer to suffered unwarranted investment losses.
Subsequently, on April 1, 2000, a customer initiated investment related complaint involving Venable’s activities was settled for $24,000.00 in damages based upon allegations that trades had been effected in the customer’s account that were not suitable for the customer, and misrepresentations were made regarding the risks of those investments.
Thereafter, on September 17, 2003, a customer filed an investment related complaint concerning Venable’s conduct in which the customer requested $35,725.00 in damages supported by accusations that Venable allocated the customer’s assets in inappropriate sub-accounts within a variable annuity. Then, on August 3, 2007 a customer filed an investment related complaint regarding Venable’s activities where the customer alleged $5,454.86 in damages based upon allegations of unsuitability.
Venable has been employed by Morgan Stanley since June 1, 2009.
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