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Did Morgan Stanley’s Frank Seminara Misrepresent Investment?
Frank Seminara (CRD# 2785718), a financial advisor based in Palm Beach, recently received an investor complaint alleging he provided misleading information. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Morgan Stanley, having previously been registered with UBS Financial Services.
Mr. Seminara’s BrokerCheck report discloses one investor complaint. Filed in October 2022, it alleges that as a representative of Morgan Stanley, he misrepresented material facts related to a hedge fund investment. The pending complaint alleges unspecified damages.
Investors should be aware that FINRA Rule 2020 stipulates that no broker shall “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Brokers who provide misleading information regarding the investments they recommend may be found to have violated Rule 2020. In cases where the investments suffer losses, these brokers may be liable for damages.
According to the Financial Industry Regulatory Authority, Frank Seminara holds 26 years of securities industry experience. Based in Palm Beach, Florida, he has been a broker and an investment advisor with Morgan Stanley since 2012. His past registrations include UBS Financial Services (Florham Park, New Jersey; 2005-2012), Morgan Stanley DW (Purchase, New York; 2000-2005), and Salomon Smith Barney (New York, New York; 1996-2000). His credentials include the passage of six 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; the Uniform Securities Agent State Law Examination, or Series 63; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Combined State Law Examination, or Series 66. He currently holds 49 state licenses. (Information current as of January 8, 2023.)
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.