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Morgan Stanley’s Craig Thistlewaite Has Options Strategy Complaints
Craig Thistlewaite (CRD# 2507050), a stockbroker in Perrysburg, Ohio, has received investor complaints concerning a stock option trading strategy. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with Morgan Stanley, having previously been registered with Citigroup Global Markets and other firms.
Mr. Thistlewaite’s BrokerCheck report discloses two pending investor complaints. The most recent was filed in February 2022, alleging that as a representative of Morgan Stanley, he recommended an unsuitable stock option trading strategy from May 2015 until May 2021. The pending complaint alleges unspecified damages.
A second pending investor complaint was filed in August 2021. It alleges that as a representative of Morgan Stanley, he breached his fiduciary duty with respect to a stock option trading strategy from 2010 until 2015. This pending complaint also alleges unspecified damages.
For reference, FINRA rules mandate that associated representatives must follow the suitability standard, under which they may recommend only investments they have a reasonable basis to believe are suitable for their customers’ investment profiles. This includes such factors as the customer’s investment goals, their investment experience, their age, their net worth, their risk tolerance, and more. The suitability standard is similar to but distinct from the fiduciary standard followed by investment advisers, which requires placing the investor’s interests above the advisor’s.
According to the Financial Industry Regulatory Authority, Craig Thistlewaite holds 26 years of securities industry experience. Based in Perryburg, Ohio, he has been a broker and investment advisor with Morgan Stanley since 2009. His past registrations include Citigroup Global Markets (Toledo, Ohio; 2006-2009), McDonald Investments (Perrysburg, Ohio; 2001-2006), Dean Witter Reynolds (Purchase, New York; 1996-2001), American Express Financial Advisors (Minneapolis, Minnesota; 1995-1996) and IDS Life Insurance Company (Minneapolis, Minnesota; 1995-1996). His credentials include the passage of seven securities industry qualifying exams: the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Representative Examination, or Series 7; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Futures Managed Funds Examination, or Series 31; and the Securities Industry Essentials Examination, or SIE. He holds 32 state licenses. (Information current as of June 12, 2022.)
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