If you suffered losses with Ami Forte, please call 303-300-5022 for a free and confidential consultation. Jeffrey Pederson, PC handles claims against securities brokerages nationwide for unsuitable securities and unauthorized trading violations.
The Financial Industry Regulatory Authority (FINRA) announced on October 3, 2018 that it was widening the investigation of Ami Forte. FINRA is the national regulatory agency that oversees securities brokerages. It does so with the oversight of the SEC.
The October 3 notice advises Forte that the regulator will include additional potential violations of rules tied to conflicts of interest and fraud. Other violations included in the October 3 notice relates to rules tied to suitability, municipal securities advisory activities and books and records.
Forte, once Morgan Stanley’s most celebrated and prominent financial advisor with $2 billion in assets under management, lost her job at Morgan Stanley when an FINRA arbitration panel entered a substantial judgment against her. The panel ordered her, her branch manager and Morgan Stanley to pay $34 million to the estate of Home Shopping Network co-founder Roy Speer in 2016. Lynnda Speer, Roy Speer’s widow, argued that the estate had been harmed by unauthorized trading, churning and elder abuse.
The initial investigation began in January 2018. FINRA had made a preliminary determination concerning violations of multiple FINRA rules. These rules concerning inappropriate exercises of discretion in an account and inappropriate recommendation of direct participation investments.
Forte had recently begun a career resurrection of sorts. In March 2018, Pinnacle Investments announced Forte as its chief business development officer.
This was short-lived. BrokerCheck records indicate that the employment with Pinnacle ended Oct. 17,
Jeffrey Pederson has represented hundreds of investors over the past 15 years in FINRA arbitrations nationwide. Time limitations may exist. Investors suspecting wrongdoing should call at their earliest convenience