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Investor Alleges Daniel Sears Misrepresented Liquidity Access Line

Mar 3, 2023 Misrepresentation

Daniel Sears (CRD #: 2191530), a broker registered with Morgan Stanley, allegedly made misrepresentations, according to his BrokerCheck record, accessed on February 22, 2023. If you want to know more about his alleged conduct as a broker, read on.

Investor Dispute

On December 29, 2022, an investor alleged that, among other things, Daniel Sears made misrepresentations in 2017 regarding the liquidity access line established in the client’s account. The investor sought $800,000 in damages but the dispute was denied by the firm.

Investors should know, however, that firms don’t need to permit an outside review before denying a dispute. Investors can still pursue FINRA arbitration following a denial and may be able to recover their funds.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise unethical tactics to influence investors’ decisions. The misrepresentation or omission of material facts violates this rule.

Background Information

Daniel Sears 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 7 – General Securities Representative Examination

Daniel Sears is a registered broker in 19 states and the District of Columbia. He is also a registered investment adviser in Texas.

He has also worked for the following firms:

  • Morgan Stanley & Company (CRD#:8209)
  • Morgan Stanley DW (CRD#:7556)
  • Deutsche Banc Alex. Brown (CRD#:2525)
  • DB Alex. Brown (CRD#:17790)
  • Tucker Anthony (CRD#:837)
  • S. W. Ryan & Company (CRD#:21669)

Kurta Law Can Help

If you worked with Daniel Sears and you have concerns about your investments, please 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.