ERIC NICHOLS of Rolling Hills, CA Suspended
Eric Nichols, formerly with Morgan Stanley, Suspended by FINRA
Have you lost money with financial advisor Eric Nichols of Rolling Hills, California? We are looking into allegations made by FINRA, the Financial Industry Regulatory Authority, against Eric Nichols. FINRA suspended Nichols from the securities industry for fifteen days and fined him $5,000. FINRA was investigating Nichols after he was fired by his securities brokerage firm, Morgan Stanley, after he paid a settlement to a customer without notifying the firm. The customer complained after alleged unauthorized trading.
Eric Nichols was a financial advisor and registered representative of Morgan Stanley from 2009 to March 2019. He worked at a branch office Rolling Hills, California. Nichols was also the subject of three customer complaints.
Brokerage firms like Morgan Stanley have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout California and the Los Angeles area. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Morgan Stanley.
Click to view: Nichols, Eric FINRA AWC
Click to view: Nichols, Eric BrokerCheck 7.31.19
If you lost money with Eric Nichols or Morgan Stanley, please CONTACT US at 720-599-3505 for a free evaluation of your case.