James Henry Duffy of Riverhead New York a stockbroker currently employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was resolved for $30,000.00 in damages supported by accusations that between March 2006 and July 2017, unsuitable investment recommendations were made about Puerto Rico municipal bonds sold to the customer during the period in which Duffy was associated with Morgan Stanley. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02479 (Sept. 25, 2019).
FINRA Public Disclosure reveals that Duffy is identified in four more customer initiated investment related disputes containing allegations of his violative conduct while employed with First Albany Corporation and Morgan Stanley. In particular, Duffy is referenced in a customer initiated investment related complaint which was settled for $7,000.00 in damages founded on accusations that during the time that Duffy was associated with First Albany Corporation, he sold corporate debt investments which failed to be appropriate for the customer given the customer’s risk tolerance and objectives for investing.
Another customer filed an investment related complaint involving Duffy’s conduct in which the customer sought $30,000.00 in damages based upon allegations of Duffy’s failure to take into account the First Albany Corporation customer’s age and risk tolerance when recommending junk bonds. Also, Duffy is the subject of a customer initiated investment related complaint which was resolved for $8,000.00 in damages supported by accusations of unsuitable stock and bond trades being effected by the stockbroker when he was associated with Morgan Stanley.
On January 20, 2017, another customer filed an investment related complaint concerning Duffy’s activities where the customer requested $250,000.00 in damages founded on allegations that when Duffy was employed by Morgan Stanley, he executed inappropriate options and stock trades which caused the customer to experience unwarranted losses.
Duffy has been registered with Morgan Stanley since June 1, 2009.
