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Christopher Amato Allegedly Failed to Manage Account in Client’s Best Interest

Christopher Amato (CRD #: 3232432), a broker registered with Morgan Stanley, is the subject of a pending investor dispute, according to his BrokerCheck record, accessed on March 15, 2023. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On February 3, 2023, an investor alleged that, among other things, Christopher Amato did not manage her accounts in her best interest between 2019 and 2020. The client seeks $400,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must examine the information contained in an investor’s profile, such as their age, risk tolerance, and tax status.

Investment strategies must also serve investors’ goals. Overconcentration in a single stock or sector is often an unsuitable investment strategy due to the high degree of risk involved. Excessive trading is quantitatively unsuitable because a high number of trades generates fees and commissions that cut into investors’ returns.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information

Christopher Amato has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination

Christopher Amato is a registered broker in 36 states and the District of Columbia. He is also a registered investment adviser in New Jersey and Texas.

He has also worked for the following firms:

  • Morgan Stanley & Company (CRD#:8209)
  • Citigroup Global Markets (CRD#:7059)
  • UBS Financial Services (CRD#:8174)
  • Citicorp Investment Services (CRD#:23988)
  • Pruco Securities (CRD#:5685)

Kurta Law Can Help

If you worked with Christopher Amato and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.