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Investors Seek $2 Million in Damages in Dispute with Robbie Msallem

Robbie Msallem (CRD #: 3199470), a broker registered with Citigroup Global Markets, allegedly made misrepresentations, according to his BrokerCheck record, accessed on March 2, 2023. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On December 16, 2022, multiple investors alleged that Robbie Msallem made misrepresentations and violated the suitability rule with regard to the sales of structured notes. The clients seek $2 million in damages in this pending dispute.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deceptive, manipulative, and otherwise unethical means of influencing the purchase and sale of securities. Misrepresenting an investment’s requirements, limitations, or other features violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must use the information in an investor’s profile, such as their age, tax status, and risk tolerance when making recommendations.

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

What are structured notes?

Structured products are complex investments that combine a bond and a derivative. Investors’ returns are dependent on the performance of the derivative component—examples of which include forwards, options, and swaps.

Background Information

Robbie Msallem has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination

Robbie Msallem is a registered broker in 16 states and the District of Columbia. He is also a registered investment adviser in California.

He has also worked for the following firms:

  • Citicorp Investment Services (CRD#:23988)
  • Cal Fed Investments (CRD#:19631)
  • Gateway Investment Services (CRD#:31153)
  • Essex National Securities (CRD#:25454)
  • Stifel, Nicolaus & Company (CRD#:793)
  • Dean Witter Reynolds (CRD#:7556)

Kurta Law Can Help

If you worked with Robbie Msallem 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.