Jeffrey Russell Suspended By FINRA, Involved In Client Disputes

Investors potentially experienced investment losses through securities broker Jeffrey Allen Russell (also known as Jeffrey Russell and Jeffrey Russell) [CRD: 2516610, Newport Beach, California], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Notably, Russell was previously registered with Morgan Stanley from May 19, 2010, to June 16, 2021. To understand more about Russell's disclosures, continue reading.

FINRA Sanctioned Russell For Unauthorized Trading

Particularly, on November 16, 2023, FINRA issued Letter of Acceptance, Waiver, and Consent No. 2021071685401 sanctioning Jeffrey Russell for infractions. Particularly, FINRA alleged that Russell effected unauthorized purchases of a money market mutual fund as well as a mutual fund that invested in mortgage backed securities. Supposedly, the transactions with the mortgage-backed securities mutual fund generated commissions. Russell consented to the sanctions and to FINRA’s findings without admitting or denying the allegations. The resolution, finalized in a November 16, 2023 Acceptance, Waiver, and Consent (AWC), included a six-month suspension starting from November 20, 2023, to May 19, 2024, disgorgement, and a fine of $5,000.

Morgan Stanley Client Alleged Unauthorized Mutual Fund Purchase By Jeffrey Russell

Additionally, a Morgan Stanley client alleged that Russell made an unauthorized purchase of a mutual fund in 2021. The client filed a written complaint on January 24, 2023. Evidently, Morgan Stanley chose to settle the matter on March 22, 2023, compensating the client with $16,000.

Merrill Lynch Client Accused Russell Of Unsuitable Trading And Fee Omissions

Furthermore, Russell faced allegations from a Merrill Lynch client who claimed that he failed to disclose fees and engaged in unsuitable trading. The complaint was denied, and Russell sent a letter to the clients refuting their claims.

Have You Suffered Losses With Jeffrey Russell?

Did you experience damages because of securities broker / financial advisor Jeffrey Russell? If so, reach out to Soreide Law Group or at (888) 760-6552 and speak with a securities attorney concerning potential recovery. Soreide Law Group, recovering losses for investors throughout the United States on a contingency fee basis and advancing all costs, can help you evaluate your options. Russell and the brokerage firms he worked for deny accusations of sales practice violations.