Call Now For a Free Consultation:
(614) 502-6165

Former Morgan Stanley Broker Randall Hayes Under Investigation for Allegedly Selling Inverse and Leveraged ETFs

Meyer Wilson is investigating allegations that former Morgan Stanley broker Randall Hayes sold customers unsuitable inverse and leveraged ETFs (exchange traded funds).

According to allegations made by the Washington Securities Division, while serving as an investment adviser representative and securities salesperson for Morgan Stanley Smith Barney, Hayes invested in inverse and leveraged ETFs in numerous client accounts. Despite his fiduciary duty to act in the best interests of his customers, he made investments that are generally not suitable for retail customers if held for more than one trading session. Hayes invested about $100,000 from one customer's account and held the investments for months and years, allegedly resulting in more than $63,000 in losses.

This isn't the first time clients have filed complaints against him for allegedly making unsuitable investments. According to his Broker Check report, Hayes has three settled disputes from 2013 and 2015, all involving unsuitability.

Though he is not currently registered, Hayes worked in the securities industry for 23 years and was employed by Morgan Stanley from 2009 to 2016, when he resigned.

Did You Suffer Financial Losses While Investing With Randall Hayes?

Making unsuitable investment recommendations is serious business, often resulting in clients losing substantial sums of money.

If you lost money because of unsuitable investments made by Randall Hayes or another broker, Meyer Wilson would like to hear from you. Give our office a call at (800) 738-1960 to see if we can help you recover your losses.

Related Posts:

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram