James Garrity: Morgan Stanley Advisor Faces Investor Complaint

La Jolla, California financial advisor James Garrity (CRD# 2005714) allegedly misrepresented an investment, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Morgan Stanley, also associated with the firm’s Salt Lake City, Utah location.

Mr. Garrity’s BrokerCheck report discloses two investor complaints. The most recent, filed in July 2025, alleges that as a representative of Morgan Stanley, he made misrepresentations regarding a covered call options strategy. The pending complaint alleges unspecified damages.

An earlier investor complaint, filed in 1999, similarly alleged that as a Goldman Sachs representative, he misrepresented the risk of a covered call options strategy. The complaint reached a settlement of $352,000.

Investors should be aware that FINRA rules and other securities industry standards forbid brokers from misleading their clients when recommending or effecting securities transactions. FINRA Rule 2020 stipulates specifically 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 misrepresent investments may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, James Garrity holds 35 years of securities industry experience. Based in La Jolla, California and Salt Lake City, Utah, he has been registered as a broker and an investment advisor with Morgan Stanley since 2015. His past registrations include Credit Suisse Securities, Donaldson Lufkin & Jenrette, and Goldman Sachs. His credentials include the passage of seven securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the National Commodity Futures Examination, or Series 3; and the General Securities Representative Examination, or Series 7. He holds 34 state licenses. (Information current as of August 19, 2025.)

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