Jack Ezra Kolker (CRD
#: 1220600) is a prior Morgan Stanley general securities representative who
disclosed a consumer-initiated, investment-related complaint from January 20, 2017.
The complaint contained allegations that from December 2015 to December of
2016, investment guidelines and other instructions were not followed in
reference to the Morgan Stanley customer’s stock and municipal debt
investments. The customer’s damages have not been specified. Morgan Stanley
denied the complaint on June 2, 2017.
There are at least two other customers of Kolker who have
sought redress for misconduct. According to FINRA BrokerCheck, on April 2,
2008, a UBS Financial Services, Inc. customer filed a complaint alleging to
have sustained losses by investing in auction rate securities. Apparently, the
customer was one of many investors who suffered from the illiquidity of the
auction rate securities market. On December 23, 2008, the customer agreed to
settle the matter for $500,000.00, which reportedly represents the gross
initial par value of the ARS position(s) held by the customer.
The other dispute consisted of a February 22, 2010
consumer-initiated arbitration proceeding brought on by several customers, one
of which included a 91 year-old investor. The customers’ collectively alleged
that the equity trading in their accounts was not suitable for them, and
transactions had been executed without permission being provided by the
customers. UBS settled the customers’ allegations of unsuitability and
unauthorized trading for $125,000.00 in damages on September 1, 2010.
FINRA BrokerCheck indicates that Kolker was registered with
UBS Financial Services Inc. until January 27, 2009. Between January 9, 2009 and
November 2, 2017, he was registered with Morgan Stanley. On November 1, 2017,
Kolker commenced employment with J.P. Morgan Securities LLC.
If you believe you are a victim of sales practice violations committed by Jack Ezra Kolker or another representative of Morgan Stanley, call the Law Office of Peter M. Spett at (561) 463-2799 for a free consultation concerning your legal rights and claims. Peter M. Spett has extensive experience recovering investor losses.
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