According to a recent article in Financial Advisor IQ, the Financial Industry Regulatory Authority (FINRA) has ruled against MORGAN STANLEY and their financial advisor KEVIN ANTHONY BUTLER (CRD#: 1138534). The ruling was due to allegations of improper trading in options of Tesla stock.
KEVIN ANTHONY BUTLER has been listed with MORGAN STANLEY in Norwell, Massachusetts, both as a broker since 6/1/2009, and as an investment advisor since 5/12/2020.
According to FINRA’s BrokerCheck, a Customer Dispute was filed in December of 2020, alleging, “Butler was named in a customer complaint that asserted the following causes of action: negligence; erroneous trading; execution error; failure to properly execute trade; and negligent management and supervision.” The article from Financial IQ alleges that these allegations were all related to Tesla options according to a letter of acceptance, waiver and consent published by FINRA.
On October 15, 2021, FINRA awarded that the respondents are jointly and severally liable for and shall pay to the Claimant the sum of $130,314.64 in compensatory damages, plus interest and approximately $8,000 in costs. The request for expungement was denied, according to the letter of acceptance.
FINRA’s BrokerCheck states that KEVIN ANTHONY BUTLER has been in the securities industry for 38 years and has 2 Disclosures on his FINRA CRD report. He has been listed with 4 firms, and is currently listed with the firm below:
141 Longwater Drive Suite 102
Norwell, MA 02061
If you’ve suffered investment losses due to the actions or recommendations of KEVIN ANTHONY BUTLER of MORGAN STANLEY in Norwell, Massachusetts, or any other broker/financial advisor who may have recommended options trading in Tesla stock, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your financial losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis and represents clients nationwide before FINRA.