SEC Bars Christopher Hibbard

Soreide Law Group is investigating possible investor claims against securities broker Christopher Lee Hibbard, AKA Chris Hibbard [CRD#: 3176484, Louisville, Kentucky]. Evidently, the Securities and Exchange Commission (SEC) sanctioned the securities broker, who worked for firms including Morgan Keegan Company and Merrill Lynch Pierce Fenner Smith. Notably, Hibbard pled guilty to criminal conduct. Here is a brief summary of the SEC 's and investors’ allegations against Hibbard:

SEC Bars Securities Broker Because Of Guilty Plea

Notably, on April 16, 2021, the Securities and Exchange Commission (SEC) issued Order 3-20262, barring Christopher Hibbard. Specifically, the SEC barred him as a securities broker because of his criminal record. Specifically, Hibbard faced criminal charges in June 2020. Allegedly, he misused someone’s funds for his own use. Supposedly, he also provided that investor with fake brokerage statements.

Evidently, Hibbard pleaded guilty to several federal offenses, including Sections 80b-6 and 80b-7. As a result, he received a jail sentence of 97 months. It appears that Hibbard will also have to serve three years of supervised release. Notably, SEC precludes Hibbard from working as a securities broker or an investment advisor as a result of this Order. Also, he cannot associate with securities brokers or investment advisories for the term of this bar.

Morgan Keegan Company Client Accuses Christopher Hibbard Of Misappropriation

Evidently, on September 29, 2020, a Morgan Keegan Company client filed a complaint about Christopher Hibbard. Particularly, the client alleged misappropriation resulting in damages. Therefore, the client requested $100,000 in compensation from Morgan Keegan Company or Hibbard. However, the firm denied this matter on February 8, 2021.

Christopher Hibbard Allegedly Breached Fiduciary Duty At Merrill Lynch Pierce Fenner Smith And Raymond James Financial Services

Moreover, a client of Merrill Lynch Pierce Fenner Smith Incorporated and Raymond James Financial Services contested Christopher Hibbard's sales practices by filing FINRA Arbitration #: 18-04310 on January 16, 2019. Notably, accusations against the securities broker include unauthorized trading, breach of fiduciary duty, breach of contract, and misrepresentation. Allegedly, Hibbard caused the client to sustain damages. Therefore, the customer agreed to settle the matter on May 29, 2019, via payment of $250,000. Still, the broker denies the allegations against him.

Merrill Lynch Pierce Fenner Smith Incorporated Client Accuses Christopher Hibbard Of Misappropriation

Evidently, on October 24, 2018, a Merrill Lynch Pierce Fenner Smith Incorporated client filed a complaint about Christopher Hibbard. Particularly, the client alleged misappropriation. Therefore, the client requested compensatory damages from Merrill Lynch Pierce Fenner Smith Incorporated or Hibbard. Evidently, this complaint is pending a resolution.

Hibbard Allegedly Makes Unsuitable Recommendations To Merrill Lynch Pierce Fenner Smith Incorporated Client

Also, a client of Merrill Lynch Pierce Fenner Smith Incorporated contested Christopher Hibbard's sales practices, according to a complaint dated July 16, 2018. Notably, accusations against the securities broker include unsuitable recommendations, misrepresentations, and churning. Allegedly, the variable annuities that Hibbard sold or recommended resulted in damages. Therefore, Merrill Lynch Pierce Fenner Smith Incorporated opted to settle the matter by compensating the client in the amount of $175,000.

Did Securities Broker Christopher Hibbard Cause You To Experience Damages?

Have you experienced damages by investing with Christopher Hibbard? If so, contact Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, who has successfully recovered money for hundreds of investors in all 50 states, represents clients on a contingency fee basis and advances all costs. Please keep in mind that Hibbard and the brokerage firms Hibbard has associated with deny any and all allegations of sales practice violations.