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John Cary Named in Suitability Dispute Involving Municipal Bond Portfolio

Oct 28, 2022 Unsuitable Investments

John Cary (CRD #: 872115), a broker registered with Morgan Stanley, was involved in a recent investor dispute, according to his BrokerCheck record, accessed on October 15, 2022. Keep reading if you want to know more about his conduct as a broker.

Investor Dispute

On July 13, 2022, an investor named John Cary in a dispute alleging that the municipal bond portfolio in the client’s managed account was unsuitable. This dispute was denied by the firm.

Investors should be aware, however, that firms don’t need to allow an external review before denying a dispute. Investors can still pursue FINRA arbitration after a denial and may be able to recoup their losses.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consider the investor’s profile, which describes their age, tax status, and risk tolerance.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

Background Information

John Cary has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module) 

John Cary is a registered broker in 30 states and the District of Columbia. He is also a registered investment adviser in Oklahoma and Texas.

He has also worked for the following firms:

  • Citigroup Global Markets (CRD#:7059)
  • PaineWebber (CRD#:8174)
  • Rotan Mosle (CRD#:727)
  • E. F. Hutton & Company (CRD#:235)

Kurta Law Can Help

If you worked with John Cary 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.