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Daniel Feng: $487K Complaint Against Newport Beach Advisor
Former Irvine, California financial advisor Daniel Feng (CRD# 5607011) has received multiple investor complaints alleging his conduct resulted in losses. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Morgan Stanley broker is currently registered as an investment advisor with American Fundstars in Newport Beach, California.
Mr. Feng’s BrokerCheck report discloses two investor complaints. The most recent, filed in August 2022, alleges that as a Morgan Stanley representative, he misrepresented material facts relating a JC Penney bond that has since defaulted. (For reference, FINRA rules and other industry standards prohibit advisors like Mr. Feng from providing materially misleading information regarding the investments they recommend.) The pending complaint alleges unspecified damages.
An earlier investor complaint, filed in March 2022, alleges that he failed to follow instructions as a Morgan Stanley representative. The pending complaint alleges damages of $487,000.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Daniel Feng holds five years of securities industry experience. Based in Newport Beach, California, he has been an investment advisor with American Fundstars since September 2021. He was previously registered as a broker and an investment advisor with Morgan Stanley in Irvine, California from 2017 until 2021. He is not currently registered as a broker. He has passed four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California. (Information current as of September 28, 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.