FINRA public records show two disclosed customer disputes against former broker Francis John Ciabattoni. FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates brokers and brokerage firms.
Francis Ciabattoni has one settled customer dispute filed in February 1999 and one pending dispute filed in March 2018. The settled claim alleged unsuitable investments and misrepresentations. The settlement amount was $40,000. The pending claim alleges unsuitable investments and requests damages of $1,140,000.
Brokers must recommend only suitable investment products and strategies to their customers. Suitability is based on factors such as a customer’s age, investment objective, risk tolerance, investment experience, and financial status and needs. Brokers sometimes recommend unsuitable investments to earn large commissions that are not disclosed to their customers.
Ciabattoni was employed by Morgan Stanley from June 2009 to February 2018. Previously he was registered with Morgan Stanley & Co. Incorporated and Morgan Stanley DW Inc, since October 1981.
If you have questions about investments made with Francis Ciabattoni, contact Marquardt Law Office LLC for a free phone consultation.
Marquardt Law Office LLC is a securities law firm that represents investors nationwide who have suffered losses due to misconduct such as fraud and negligence.
Information regarding Francis John Ciabattoni was obtained from FINRA BrokerCheck records accessed on July 31, 2018.