WARNING! Impending Investigation – TIMOTHY GIBBONS
Timothy Gibbons from New Orleans, Louisiana, Suspended From Securities Industry for 18 Months
Have you lost money with financial advisor Timothy Gibbons of New Orleans, Louisiana? We are investigating allegations made by FINRA (the Financial Industry Regulatory Authority), against Timothy T. Gibbons. FINRA suspended Timothy Gibbons from the securities industry for 18 months regarding allegations that he made unsuitable investment recommendations to elderly customers. In particular, FINRA alleged that Gibbons recommended that his elderly customers hold overconcentrated positions in one energy sector stock. This caused $960,000 in combined losses.
FINRA and Gibbons entered into an agreed order, whereby Gibbons was suspended for 18 months and agreed to pay a $20,000 fine. Gibbons was also ordered to pay partial restitution of $716,749; however, statistically such restitution orders are seldom paid.
Timothy Gibbons was a financial advisor and registered representative of Morgan Stanley between June 2009 and April 2015. He worked at a branch office in New Orleans, Louisiana. Gibbons currently is facing one customer complaint in the Parish of Orleans.
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 the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Louisiana and throughout the greater New Orleans area. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Morgan Stanley.
Click to view: Gibbons, Timothy FINRA AWC
Click to view: Gibbons, Timothy BrokerCheck 11.18.17
If you lost money with Timothy Gibbons or Morgan Stanley, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.