Graham, North Carolina financial advisor Jason Cook (CRD# 4349388) has received an investor complaint alleging six-figure damages. Financial Industry Regulatory...Read More
Dana Timchenko: $500K Options Complaint Against Cornelius Advisor
Morgan Stanley broker and investment advisor Dana Timchenko has received an investor complaint alleging half a million dollars in damages. Financial Industry Regulatory Authority records show that she is a representative based in Cornelius, North Carolina, having previously been registered with UBS Financial Services.
Ms. Timchenko’s BrokerCheck report discloses one pending investor complaint. Filed in March 2022, it alleges “unsuitability with respect to [a] stock options strategy” between December 2021 and March 2022. The pending complaint alleges damages of $500,000.
Under FINRA Rule 2111, brokers may recommend only investments or strategies that are suitable for their clients. To ascertain whether an investment or strategy is suitable for the client, they must conduct reasonable diligence into the client’s investment profile, which includes their age, risk tolerance, investment objectives and experience, and other factors. They must conduct reasonable diligence to determine whether the investment is suitable for some investors, whether it is suitable for the specific investor, and, in cases where the advisor exercises discretion over trading in a customer’s account, they must conduct reasonable diligence to determine that a series of transactions is not unsuitable or excessive.
According to the Financial Industry Regulatory Authority, Dana Timchenko holds 13 years of securities industry experience. Based in Cornelius, North Carolina, she has been a broker and investment advisor with Morgan Stanley since 2017. Her only prior registration was with UBS Financial Services in Charlotte, North Carolina, from 2008 until 2017. Her credentials include the passage of three securities industry qualifying examinations: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. She is licensed in California, Colorado, Delaware, Florida, Georgia, Illinois, Kentucky, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Pennsylvania, South Carolina, Texas, Virginia, Washington, and Wyoming. She is registered with four self-regulatory organizations, or SROs: FINRA, NYSE American LLC, the Nasdaq Stock Market, and the New York Stock Exchange. (Information current as of June 15, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.