Walter Lim is the Subject of a $673,000 Investment Dispute

Walter Lim (CRD #: 1747688), a broker registered with Morgan Stanley, allegedly executed an unsuitable investment strategy, according to his BrokerCheck record, accessed on December 15, 2022. If you want to know more about his alleged conduct as a broker, read on.

Investor Dispute

On November 10, 2022, an investor alleged Walter Lim implemented an unsuitable covered call strategy in their account from 2021-2022. The client seeks $673,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Brokers must take into account an investor’s tax status, age, risk tolerance, and other information described in their profile.

• Investments can be unsuitable because they are high-risk and more likely to cause losses for the client.
• Investments may also be unsuitable because they are illiquid. Certain securities are meant to be held for an extended time and can penalize investors with high fees if they try to cash out too soon.
• Trading activity can be quantitatively unsuitable, which means that the broker executed an excessive number of trades.
• Overall investment strategies can also be unsuitable—overconcentration in a singular stock or sector is a common example.

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

Background Information

Walter Lim 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 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination

Walter Lim is a registered broker in 22 states and the District of Columbia. He is also a registered investment adviser in California and Texas.

He has also worked for the following firms:

• Citigroup Global Markets (CRD#:7059)
• Lehman Brothers (CRD#:7506)
• Dean Witter Reynolds (CRD#:7556)

Kurta Law Can Help

If you worked with Walter Lim 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.