In 2010, the SEC instituted public administrative and cease-and-desist proceedings against Brett Messing (CRD 2077288), BrokerCheck shows. Without admitting or denying the findings, the respondents consented to a finding that they willfully violated Rule 105 of Regulation M.
The report's newest entry is a pending customer claim at Hastings Capital. That claim is an unproven allegation, and no arbitrator has ruled on it.
The oldest matter dates to November 5, 1997, at Goldman, Sachs & Co. The disclosure lists misrepresentation, breach of fiduciary duty and churning. Brett Messing's report shows $1,600,449 in alleged damages and a settlement of $600,000 on February 26, 1998. A settlement is not an admission of wrongdoing.
Another Goldman, Sachs & Co dispute followed on August 9, 1999. It alleged excessive trading and breach of fiduciary duty from February 1992 through December 1996. According to the disclosure, the account was profitable, so the damages claimed were for lost opportunity, commission and mark-ups.
Brett Messing's report lists $7,000,000 in alleged damages. That dispute settled on April 5, 2000, for $170,000. BrokerCheck labels the products margin and penny or microcap stock.
SEC administrative releases 34-61718 and IA 40-3002, dated March 16, 2010, cover this matter under docket 3-13818. They state that in 2006, Messing and his firm violated the former version of Rule 105 of Regulation M. The disclosure names Gps Partners and lists equity or stock as the product.
The proceedings ran under Section 21C of the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940. In a statement included with the disclosure, Brett Messing's respondents said they consented without admitting or denying the findings, except as to the SEC's jurisdiction and the subject matter.
Rule 105 generally limits short sales made shortly before a public offering prices.
Blue sky laws are state securities statutes, separate from federal law. They often cover the registration of an offering and the people who sell it. Respondeat superior is a doctrine that can hold an employer responsible for an employee's acts on the job.
When we review a claim that pleads these theories, we look first at where the sale took place. This background is general and adds nothing to the record on Brett Messing.
Claimants filed docket 26-01295 on June 22, 2026, and it remains pending with $800,000 in alleged damages. They allege negligence, blue sky violations, breach of fiduciary duty, breach of contract and respondeat superior. The allegations relate to a real estate investment trust that commenced operations on 12/3/2018. According to the disclosure, claimants bought it in 2019 and 2021.
In a statement on BrokerCheck, Hastings Capital Group, LLC and Brett Messing rejected the allegations as "baseless and unsupported by the facts." They also said they will "vigorously defend against them." The statement adds that claimants requested approximate compensatory damages and recovery in an undetermined amount.
Churning means trading an account too often, mainly to earn commissions for the broker. Churning is not limited to discretionary accounts: it can happen when the customer approves every trade. Under FINRA's rules, excessive trading is a suitability issue. Since June 2020, Regulation Best Interest also bars a series of recommended trades that is excessive for a retail customer. Two measures usually frame a churning claim. The turnover rate shows how many times the account's value was traded over a year. The cost-to-equity ratio shows what the account had to earn just to cover its trading costs. We begin any churning review with those two figures and the monthly account statements.
Brokerage firms have a duty to supervise the brokers who work for them. If Brett Messing handled your account and you have questions, Soreide Law Group can go over it with you. Call (888) 760-6552 or contact us online. Because these claims go to FINRA arbitration rather than a local court, we handle them for investors nationwide. We work on a contingency fee basis. Here is how FINRA arbitration works.
This post summarizes public FINRA records, including BrokerCheck, as of November 4, 2026. Allegations in customer complaints and arbitrations are claims, not findings. Pending claims remain open and undecided. A settlement is also not an admission of wrongdoing. FINRA may also update or correct these records after that date.
In 2010, the SEC instituted public administrative and cease-and-desist proceedings against Brett Messing (CRD 2077288), BrokerCheck shows. Without admitting or denying the findings, the respondents consented to a finding that they willfully violated Rule 105 of Regulation M.
Customers filed a pending arbitration on March 17, 2026, that names Jonathan Blount (CRD 5700831) and LPL Financial. BrokerCheck shows it under docket 26-00397. The allegations are unproven, Blount denies them, and no arbitrator has ruled.
A customer dispute disclosure on John McKee's BrokerCheck report names Dfpg Investments as the firm. McKee's CRD number is 1931547. The claim is pending, and its $3,000,000 in alleged damages is an unproven figure. No arbitrator has ruled on it.
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