Investor Alleges Craig Skelly Executed Unauthorized Stock Purchases

Craig Skelly (CRD #: 1099710), a broker registered with Stifel, Nicolaus & Company, allegedly executed unauthorized trades, according to his BrokerCheck record, accessed on June 15, 2023. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On April 29, 2023, several investors filed a dispute alleging that Craig Skelly executed three unauthorized purchases of preferred stocks on March 6, 2023. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an outside review. Investors can still pursue FINRA arbitration after a denial and may be able to recover their losses.

FINRA Rule 3260

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. The firm must also approve the designation of an account as discretionary before this trading can occur.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Craig Skelly 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 3 – National Commodity Futures Examination
• Series 7 – General Securities Representative Examination

Craig Skelly is a registered broker in 21 states and a registered investment adviser in California and Texas.

He has also worked for the following firms:

• Morgan Stanley (CRD#:149777)
• Morgan Stanley & Company(CRD#:8209)
• Morgan Stanley DW (CRD#:7556)
• Great Western Financial Securities Corporation (CRD#:14229)
• Dean Witter Reynolds (CRD#:7556)

Kurta Law Can Help

If you worked with Craig Skelly 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.