Timothy Thomas Gibbons, formerly with Morgan Stanley New Orleans Suspended by FINRA and Ordered to Pay Restitution to Elderly Clients

Soreide Law Group obtained the following information from FINRA’s Disciplinary Report January 2018: 
Timothy Thomas Gibbons (CRD #219872, New Orleans, Louisiana)
was issued a deferred fine of $20,000, suspended from association with any FINRA member in all capacities for 18 months, and ordered to pay deferred partial restitution of $716,749.78, plus interest, to clients for allegedly making unsuitable investment recommendations to five elderly, retired clients, who ranged in age from 72 to 90, when he over concentrated the clients’ accounts in a single, high-risk energy sector security.
FINRA’s findings stated that some of Gibbons’ recommendations were unsuitable for each client based on the client’s age, risk tolerance, investment objectives and financial circumstances.
Timothy Thomas Gibbons’ investment recommendations resulted in collective realized and unrealized losses of over $960,000 in the clients’ accounts.
The suspension is in effect from November 20, 2017, through May 19, 2019.
(FINRA Case #2015047910601)
According to FINRA’s BrokerCheck, Timothy Thomas Gibbons has 2 Disclosures on his report.  Gibbons has been in the securities industry for 42 years and was listed with 4 firms, the most recent listed below:
06/01/2009 - 04/22/2015  MORGAN STANLEY - NEW ORLEANS, LA 
If you or an elderly family member were clients of former Morgan Stanley of New Orleans broker, Timothy Thomas Gibbons, and you sustained losses due to his actions or recommendations, particularly in over-concentration of energy stocks, call Soreide Law Group for a no cost consultation with an experienced securities lawyer regarding the possible recovery of you investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents our clients nationwide before FINRA and we operate on a contingency fee basis, no fee if no recovery.  Let our years of experience work for you.