Lionel Goldberg Involved in Floating Rate Security Dispute

Lionel Goldberg (CRD #: 1554193), a broker registered with Morgan Stanley, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on December 6, 2023. Keep reading if you have questions about his alleged conduct. 

On September 21, 2023, an investor alleged that Lionel Goldberg misrepresented the purchase of a fixed-to-floating rate security. The damages are unspecified. The dispute was denied by the firm, but investors should know that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

What is a Floating Rate Security? 

A “floating” interest rate adjusts depending on interest rates. Floating rate funds invest in bonds or exchange-traded funds (ETFs). Floaters typically offer lower interest rates than fixed-rate securities, but come with the promise to increase the interest once interest rates rise. But investors beware: issuers of these types of securities may default, rendering them riskier than fixed-rate securities. 

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Background Information 

Lionel Goldberg 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
• Series 9 General Securities Sales Supervisor – Options Module Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination 
• Series 8 General Securities Sales Supervisor – (Options Module & General Module) 

He is a registered broker in 21 states and is a registered investment adviser in New York and Texas. 

Lionel Goldberg has registered with the following firms: 

• Morgan Stanley (CRD #: 149777) 
• CitiGroup Global Markets (CRD #: 7059) 
• Prudential Securities Incorporated (CRD #: 7471) 

Kurta Law Can Help 

If you have worked with Lionel Goldberg and 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.