Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Nicklas Volbi (Volbi), currently associated with Morgan Stanley & Co. LLC, has at least one disclosable event. These events include one tax lien, alleging that Volbi recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on August 29, 2024.
The Panel of the Chicago Mercantile Exchange (“CME”) Business Conduct Committee (the “Panel”) found that on multiple occasions, the representative placed buy and sell orders in various futures contracts that matched opposite each other for accounts owned by his employer in violation of CME Rule 534. The Panel found that the representative entered the opposing orders to transfer positions between firm accounts he should have known shared common beneficial ownership and that the representative reasonably should have known that the execution of the orders would achieve a wash result.
