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Chris McCaffrey Involved in $15 Million Unsuitability Dispute

Chris McCaffrey (CRD #2735236), a broker and investment advisor registered with Morgan Stanley is involved in an unsuitability dispute according to his BrokerCheck record.   

According to the allegations filed on November 1, 2021, Chris McCaffrey employed an unsuitable options investment strategy. The investor is seeking $15,708,558 — the case is still pending.  

Options are tradable contracts that investors use to speculate an asset’s price, without any requirement to actually buy the asset in question. Brokers often describe options trading as a way to hedge risk, but depending on what type of options contract you purchase, you may be taking on considerable risk.  

A broker must have exercised due diligence and have an adequate reason for believing that an options strategy will be suitable or beneficial for the investor. According to FINRA Rule 2111, brokers may be liable for investor unsuitability claims if they recommend an unsuitable investment strategy.  

Background Information 

Chris McCaffrey has passed the following exams: 

  • Series 66 – Uniform Combined State Law Examination 
  • Series 63 – Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 – General Securities Representative Examination 

He is a registered broker in 14 states. He is also a registered investment advisor in California and Texas. 

Chris McCaffrey has also worked with the following firms: 

  • Morgan Stanley & Co. Incorporated (CRD#:8209) 
  • Morgan Stanley  (CRD#:7556) 
  • Morgan Stanley DW (CRD#:7556) 
  • A. G. Edwards & Sons (CRD#:4) 

 Kurta Law Can Help 

If you have worked with Chris McCaffrey and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or for a free consultation.  

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.