Broker Investigation: Peter Lewis of Morgan Stanley

Peter Lewis Securities Representative at Morgan Stanley On March 5th, 2018, a customer filed a complaint against Peter Lewis, alleging that he caused an investor to sustain major losses due to excessive trading. Here, our investment fraud team reviews the complaint against Mr. Lewis. All information in the article has been sourced directly from FINRA.

Investor Complaint: Peter Lewis

Brokers have a responsibility to treat their customers in an ethical and fair manner. In March, a Morgan Stanley investor filed a complaint alleging that major investment losses were sustained because of the misconduct of Peter Lewis. Specifically, the investor alleged that Mr. Lewis made excessive trades.

Also known as churning, excessive trading occurs when a broker makes an unreasonable number of trades on behalf of an investor. In doing so, the broker rakes in a large number of commissions, while the investor’s portfolio slowly loses value due to all of the additional fees. Brokers must have a reasonable basis to make all trades.

According to the information provided by FINRA, this investor is seeking $540,000 in financial compensation from Mr. Lewis. As of late May of 2018, this case is still listed as pending. No settlement or final ruling has been made.

Get Help From an Investment Fraud Lawyer Now

At Sonn Law Group, our legal team has helped protect the rights of investors nationwide. If you believe that you were the victim of securities fraud or broker misconduct, please reach out to our law office today for a free, private case evaluation.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

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