HUGH MATTHEW VENRICK is currently employed as a Broker and/or Investment Adviser at MORGAN STANLEY located at 300 CHERAPA PLACE, SUITE 503, SIOUX FALLS, SD, 57103.
HUGH MATTHEW VENRICK has worked at MORGAN STANLEY since June 01, 2009
Disclosure History
HUGH MATTHEW VENRICK has 1 Disclosure Event(s).
Date: January 29, 2014 Category: Customer Dispute Allegations: CLAIMANT ALLEGES, INTER ALIA, MISREPRESENTATION WITH RESPECT TO AUCTION RATE SECURITY INVESTMENTS.01/01/2008-12/31/2008 Damage Amount Requested: $13,142.19 Broker Comment: THIS MATTER INVOLVES THE SALE OF AUCTION RATE SECURITIES (ARS). THE TRANSACTION(S) AT ISSUE TOOK PLACE BEFORE MID-FEBRUARY 2008, WHEN THE ARS MARKET SUFFERED WIDESPREAD AUCTION FAILURES AND ILLIQUIDITY. THE FINANCIAL ADVISOR DID NOT CAUSE, CONTRIBUTE OR HAVE ANY CONTROL WHATSOEVER OVER THESE MARKET EVENTS. THE FIRM REACHED AGREEMENT WITH CERTAIN OF ITS REGULATORS, PURSUANT TO WHICH IT REPURCHASED ARS FOR THEIR FULL PAR VALUE FROM CERTAIN CLIENTS, INCLUDING THE INSTANT CLIENT, WHETHER THEY COMPLAINED OR NOT. THE FINANCIAL ADVISOR WAS NOT A PARTY TO THAT AGREEMENT, DID NOT MAKE ANY PAYMENT TO THE CLIENT, AND WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE REPURCHASE AMOUNT. THE SETTLEMENT AMOUNT IN ITEM 11 ABOVE REFLECTS THE PAR VALUE OF THE REPURCHASED ARS, AS REQUIRED BY FINRA REGULATORY NOTICE 09-12.THIS MATTER WAS PREVIOUSLY FILED AS A COMPLAINT AND WAS SETTLED ON 11/05/2008 FOR $275,028.00. IN ACCORDANCE WITH FINRA'S SPECIAL ARBITRATION PROCEDURE FOR ARS CONSEQUENTIAL DAMAGES, THE CLIENT HAS NOW ESCALATED THIS COMPLAINT TO AN ARBITRATION CLAIMING CONSEQUENTIAL DAMAGES OF $13,142.19.CLAIMANT'S CLAIMS ARE DENIED IN THEIR ENTIRETY.
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