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Investors Seek Over $1 Million in Dispute with Jimmy Monken

Securities Lawyer Jonathan Kurta
By: Jonathan Kurta Author
April 4, 2023 at 2:18pm

Jimmy Monken (CRD #: 5765921), a broker registered with Morgan Stanley, is the subject of a pending dispute, according to his BrokerCheck record, accessed on March 22, 2023. If you have questions about his alleged conduct as a broker, read on.

Investor Dispute

On January 25, 2023, multiple investors filed a dispute alleging, among other things, that Jimmy Monken failed to manage their accounts in their best interests in 2022. They seek $1,026,897 in damages in this pending dispute.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles contain information such as investors’ age, risk tolerance, and financial goals.

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

Jimmy Monken has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Jimmy Monken is a registered broker in 16 states and a registered investment adviser in Illinois, Missouri, and Texas.

He has also worked for Morgan Keegan & Company (CRD#:4161).

Kurta Law Can Help

If you worked with Jimmy Monken 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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