Michael Lawrence Regan (CRD #3079973) Has a Customer Dispute Disclosure on FINRA BrokerCheck

Michael Lawrence Regan (CRD #3079973) is a broker with a customer dispute on FINRA BrokerCheck. We reviewed his BrokerCheck report on February 15, 2026. It reflects one customer dispute. If you invested with Michael Lawrence Regan and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Michael Lawrence Regan’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On December 9, 2025, a claimant filed a customer dispute that remains pending. Claimants alleged, among other things, unsuitable account management and investments from January 2018 through October 2025. Michael Lawrence Regan’s FINRA BrokerCheck report lists the product type as options. The claim seeks $2,497,430.74 in alleged damages. Morgan Stanley is listed as the employing firm at the time of the activity. FINRA arbitration is pending under docket number 25-02716.

Rule Summary #1: FINRA Rule 2360 (Options)

FINRA Rule 2360 sets standards for options accounts and options transactions. An options dispute can raise questions about approvals, disclosures, and how trading was supervised.

Rule Summary #2: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis to believe a recommendation is suitable for the customer. Suitability concerns often focus on risk tolerance, time horizon, and whether the strategy matched the account’s needs.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on His FINRA BrokerCheck report, Michael Regan:

Is currently registered with Morgan Stanley.

Has passed the Securities Industry Essentials (SIE) exam. Michael Regan has passed Series 7. He has also passed Series 66.

Was previously registered with firms that include Citigroup Global Markets Inc. and UBS Financial Services Inc.

Kurta Law Can Help

If you have worked with Michael Regan and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unsuitable Investments | Securities Attorney

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.