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Jay Lipman Allegedly Misrepresented Mutual Fund

Jay Lipman (CRD #: 1528277), a broker registered with Morgan Stanley, allegedly made misrepresentations, according to his BrokerCheck record, accessed on March 23, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On January 23, 2023, an investor alleged, among other things, that Jay Lipman made misrepresentations with regard to a mutual fund purchased in 2022. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by seeking out FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deception, manipulation, and other fraudulent means of influencing the purchase and sale of securities. The misrepresentation of information related to investments, such as their potential fees, risks, or returns, violates this rule.

Background Information

Jay Lipman 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

Jay Lipman is a registered broker in 13 states and the District of Columbia. He is also a registered investment adviser in New York.

He has also worked for UBS Financial Services (CRD#:8174) and Kidder, Peabody & Company (CRD#:7613).

Kurta Law Can Help

If you worked with Jay Lipman 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. 

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