Christopher D. Stoddard, of Norwell, Massachusetts, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he altered customer account documentation. Letter of Acceptance, Waiver and Consent, No. 2016051578601 (Aug. 16, 2017).

According to the AWC, on September 9, 2016, at a point just prior to Stoddard’s registration having been terminated with Morgan Stanley, he changed the contact information within the firm’s systems for four of the firm’s customers to hinder the firm’s chances at reaching customers. The AWC revealed that customers neither knew nor permitted Stoddard’s altering of their information. FINRA concluded that Stoddard’s activities led the records and books of Morgan Stanley to be incorrect; conduct violative of FINRA Rules 2010 and 4511.

FINRA Public Disclosure reveals that Stoddard has been identified in six customer initiated investment related disputes containing allegations of his misconduct while employed with Wells Fargo, Salomon Smith Barney, and Citigroup Global Markets Inc. Particularly, on May 21, 2002, a customer filed an investment related written complaint involving Stoddard’s conduct, in which the customer requested $52,000.00 in damages supported by allegations that Stoddard effected unsuitable over-the-counter equities transactions in the customer’s account.

Moreover, on March 18, 2003, a customer filed an investment related written complaint regarding Stoddard’s activities, where the customer sought compensatory damages based upon allegations that Stoddard made misrepresentations to the customer concerning a variable annuity. Subsequently, on March 28, 2003, another customer filed an investment related written complaint involving Stoddard’s conduct, in which the customer requested $30,780.61 in damages founded upon allegations that Stoddard poorly advised the customer, and effected mutual fund transactions in the customer’s account that were not suitable for the customer.

On September 9, 2016, Stoddard became associated with Wells Fargo Advisors – yet he was fired from his position on November 15, 2016, based upon allegations of his misconduct referenced by Morgan Stanley. As of December 15, 2016, he has been associated with Stifel, Nicolaus & Company, Incorporated.

Guiliano Law Group

Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Tags: , , , ,

Comments are closed.