Michael Robert Greenfield of Boca Raton Florida a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $200,000.00 in damages supported by allegations that (1) fiduciary duties owed by the stockbroker were breached (2) contractual obligations had not been complied with (3) the customer’s account was handled with poor care and (4) Oppenheimer failed to supervise Greenfield’s alternative investment transactions including the sale of oil and gas master limited partnerships. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00297 (May 7, 2019).
FINRA Public Disclosure confirms that Greenfield has been identified in five more customer initiated investment related disputes pertaining to accusations of his misconduct during the period in which he was employed by The GMS Group and Morgan Stanley Smith Barney. In particular, Greenfield is the subject of a customer initiated investment related complaint which was settled to resolve allegations of unsuitable municipal debt investments being sold to the customer during the time that Greenfield was associated with Morgan Stanley.
Another customer initiated investment related arbitration claim involving Greenfield’s activities was resolved for $35,000.00 in damages founded on accusations that fiduciary obligations to the customer were violated by the stockbroker through his inappropriate municipal debt investment recommendations. FINRA Arbitration No. 14-02439 (Apr. 7, 2015). Also, a customer initiated investment related arbitration claim concerning Greenfield’s behavior was settled for $15,000.00 in damages based upon allegations of bad closed end fund and structured notes being recommended by the stockbroker when he was employed by The GMS Group LLC. FINRA Arbitration No. 15-00677 (Sept. 17, 2015).
Greenfield is additionally referenced in a customer initiated investment related written complaint which was resolved for $10,000.00 on May 31, 2017 supported by accusations of false or misleading statements being made in regard to the mutual funds sold to the customer by Greenfield. On June 14, 2017, another customer filed an investment related arbitration claim regarding Greenfield’s conduct where the customer requested $147,334.00 in damages founded on allegations that during the period in which Greenfield was associated with Oppenheimer, Morgan Stanley and The GMS Group, contractual obligations had been breached; transactions effected in the customer’s account were fraudulent and failed to be suitable; and the customer’s account lacked supervision as it pertained to Greenfield’s municipal debt sales. FINRA Arbitration No. 17-01558.
Greenfield’s registration with Oppenheimer was terminated on April 22, 2016. Since June 6, 2017, he has been registered with Newbridge Securities Corporation.
