Gregory Libby is Facing Allegations of Unsuitable Recommendations
Gregory Libby (CRD #: 2455485), a broker registered with Morgan Stanley, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on February 2, 2024. Keep reading if you have questions.
On October 18, 2023, an investor alleged that Gregory Libby implemented an unsuitable investment strategy in a retirement plan.
What is an Unsuitable Recommendation?
FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:
- Age
- Risk tolerance
- Time horizon (i.e., how long the investor plans to hold the investment)
- Investing experience
- Tax status
- Financial goals
Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Unsuitable recommendations in retirement accounts violate this rule.
Background Information
Gregory Libby has passed the following exams:
- 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
He is a registered broker in 38 states and is a registered investment adviser in New Jersey, New York, and Texas.
Gregory Libby has registered with the following firms:
- Morgan Stanley (CRD #: 149777)
- CitiGroup Global Markets (CRD #: 7059)
- Dean Witter Reynolds (CRD #: 7556)
Kurta Law Can Help
If you have worked with Gregory Libby and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.