Simon Leung Allegedly Did Not Consider His Client’s Best Interest

Simon Leung (CRD #: 5795988), a broker registered with Wells Fargo Clearing Services, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on May 3, 2024. Keep reading for more information. 

Investor Allegations 

On February 15, 2024, an investor alleged that Simon Leung recommended purchasing an investment that was not in his best interest due to the risk of loss and surrender penalty. This dispute was denied, but investors should know that firms can deny disputes without any external review. Investors can still recover funds following a denial.

What is Regulation Best Interest? 

Regulation Best Interest expands on the requirements of FINRA Rule 2111, which defines suitable investment recommendations. In addition to limiting their recommendations to investments that suit their investors’ needs, brokerage firms must also uphold a Duty of Care, the Conflict of Interest Obligation, and the Disclosure Obligation. These obligations and duties require brokerage firms to disclose conflicts of interest. 

Background Information 

Simon Leung 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 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in ten states and is a registered investment adviser in Georgia and Texas. 

During his 12 years of experience, Simon Leung has registered with three firms: 

• Wells Fargo Clearing Services (CRD #: 19616) 
• JP Morgan Securities (CRD #: 79) 
• Chase Investment Services Corp. (CRD #: 25574) 

Kurta Law Can Help 

If you have worked with Simon Leung and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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.