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Mark Payne Allegedly Engaged in a Strategy that Lost an Investor $15 Million

Mar 15, 2022 Unsuitable Investments

Mark Payne (CRD #: 6803556), a broker registered with Morgan Stanley, is involved in an investor dispute, according to his BrokerCheck record, accessed on March 8, 2022.

On January 20, 2022, an investor alleged that Mark Payne recommended unsuitable investments related to an options trading strategy. The investor is seeking $15,531,642; the dispute is pending.

Options are contracts that allow investors to speculate on an asset’s future price, without any requirement to buy the asset in question. Brokers often describe options trading as a way to hedge risk, but depending on what type of options contract you purchase, you may be taking on considerable risk.  

A broker must have exercised due diligence and have an adequate reason for believing that an options strategy will be suitable or beneficial for the investor. Brokers must consider the investor’s risk tolerance, financial goals, age, and investing experience. According to FINRA Rule 2111, brokers may be liable for investor unsuitability claims if they recommend an unsuitable investment strategy. 

Background Information

Mark Payne has passed the following exams:

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

He is a registered broker in 20 states and the District of Columbia. He is a registered broker in California and Texas.

Mark Payne has worked exclusively with Morgan Stanley (CRD #: 149777)

Kurta Law Can Help

If you have worked with Mark Payne and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated on behalf of investors who have lost money following broker fraud or misconduct. Kurta Law is a nationally recognized law firm and exclusively represents investors on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Our attorneys will work tirelessly to restore your lost funds and get your financial future back on track.