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Thomas Steele Allegedly Involved in a Client Loan

Thomas Steele (CRD #: 6131730), a broker registered with Morgan Stanley, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on September 20, 2024. Keep reading if you have questions concerning his alleged conduct. 

Investor Allegations 

On July 30, 2024, an investor’s attorney alleged that Thomas Steele was involved in a loan between his client and the client’s father. The investor is seeking $175,000. 

FINRA Rule 3240

FINRA Rule 3240 describes the limited circumstances under which brokers may borrow from or lend to clients, such as loans between immediate family members.

Background Information 

Thomas Steele 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 40 states and D.C. He is also a registered investment adviser in Georgia and Texas. 

During his 11 years of experience, Thomas Steele has registered with two firms: Morgan Stanley (CRD #: 149777) and Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691). 

Kurta Law Can Help 

If you worked with Thomas Steele and you 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.

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