- January 6, 2023
- Morgan Stanley
Chinyuan Chang (CRD#: 2922898) is a previously registered Broker and previously registered Investment Adviser.
He entered the securities industry in 1997 and previously worked for Morgan Stanley; Cetera Investment Services, LLC; Primevest Financial Services, Inc.; Sinopac Financial Services (USA) LTD.; PCI*Trade Securities; ASI Investments, Inc.; Milestone Financial Services, Inc.; and Bestrade, Inc.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in December 2022, FINRA sanctioned Chinyuan Chang, permanently barring him from all capacities indefinitely, beginning December 19, 2022. The FINRA sanction states, “Without admitting or denying the findings, Chang consented to the sanction and to the entry of findings that he refused to appear for and provide on-the-record testimony requested by FINRA in connection with its investigation of allegations made in a Form U5 filed by his member firm disclosing that it had discharged Chang for concerns regarding his misappropriation of funds from client accounts.”
For a copy of the FINRA sanction, click here.
In addition, Chinyuan Chang has been the subject of one customer complaint, including the following:
- July 2022 — “Concerns regarding representative’s misappropriation of funds from client accounts.” Chinyuan Chang was discharged by Morgan Stanley Smith Barney.
For a copy of Chinyuan Chang’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
Reasonable basis suitability requires that a recommended investment or investment strategy be suitable or appropriate for at least some investors. Reasonable basis suitability requires an advisor to conduct adequate due diligence so that he or she can determine the risks and rewards of the investment or investment strategy.
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Customer-specific suitability requires that a member or associated person have a reasonable basis to believe that the recommendation is suitable for a particular customer based on that customer’s investment profile. Among the criteria that a financial advisor must evaluate to satisfy his or her customer-specific suitability obligations include the investor’s age, tax status, time horizon, liquidity needs, and risk tolerance; a client’s other investments, financial situation and needs, investment objectives, and any other information disclosed by the customer should also be considered.
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