Christopher A. Reid (Christopher Reid) – Financial Advisor/Broker Christopher Reid Suspended from the Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Christopher Reid was a previously licensed financial advisor with Morgan Stanley. FINRA reports that Christopher Reid was fined $5,000.00 and suspended from the securities industry for four months beginning in August 2020.
According to FINRA Allegations:
Christopher Reid consented to the sanctions and to the entry of findings that Christopher Reid participated in private securities transactions in a third-party’s account held away from his member firm without providing written notice to, or otherwise informing the firm. The findings stated that FINRA began its investigation of Christopher Reid after receiving a Form U5 reporting that Reid voluntarily resigned while under internal review regarding transactions in a third party’s account held at another brokerage firm. An individual attempted to open a firm brokerage account through Christopher Reid; the firm rejected the account. That person then opened a self-directed brokerage account with another FINRA member that the person funded with a $100,000 deposit. Christopher Reid agreed to assist and place trades on behalf of the individual in the outside account. Later, Christopher Reid and the individual, either together or individually, placed approximately 200 equity and options trades. The account lost approximately 90 percent of its value. Christopher Reid was not compensated for, and did not have a beneficial interest in, the account. Christopher Reid participated in these securities transactions by advising the owner of the account on the trading strategy and by directly placing trades in the account through the other FINRA member’s website.
According to Christopher Reid’s BrokerCheck Report, Christopher Reid voluntarily resigned from Morgan Stanley in September 2018. The allegations pertaining to Christopher Reid’s voluntary resignation regarded employee’s access to, and conducting transactions in, a former client’s account at a third party financial institution.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Christopher Reid and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Christopher Reid’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Christopher Reid and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Some of the information in this blog post was obtained on 8/25/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.