JAMES MICHAEL OLSON is currently employed as a Broker and/or Investment Adviser at MORGAN STANLEY located at ONE BOULDER PLAZA, 1800 BROADWAY, SUITE 120, BOULDER, CO, 80302.
JAMES MICHAEL OLSON has worked at MORGAN STANLEY since July 30, 2010
JAMES MICHAEL OLSON has 2 Disclosure Event(s).
Date: April 09, 2008 Category: Customer Dispute Allegations: THE COMPLAINT AROSE OUT OF THE SALE OF AN AUCTION RATE SECURITY (ARS) THAT WAS MADE PRIOR TO THE WIDESPREAD ILLIQUIDITY IN THE ARS MARKET THAT OCCURRED IN FEBRUARY 2008 Settlement Amount: $1,525,000.00 Broker Comment: THE COMPLAINT AROSE IN CONNECTION WITH THE INDUSTRY WIDE BREAKDOWN OF THE LIQUIDITY IN THE MARKET FOR AUCTION RATE SECURITIES ("ARS"). THE FIRM AGREED TO REPURCHASE THE ARS SECURITIES AT ISSUE AT PAR VALUE FROM THE CLIENT PURSUANT TO A GLOBAL REPURCHASE AGREEMENT IT ENTERED INTO WITH SEVERAL REGULATORY BODIES. THIS WAS NOT A SETTLEMENT OF A DISPUTE BETWEEN THE CLIENT AND THE REPRESENTATIVE AND WAS NOT BASED ON THE MERITS OF THE CLIENT'S SPECIFIC CONCERNS OR ANY FINDING OF FAULT OR WRONGDOING BY THE NAMED REPRESENTATIVE. THE NAMED REPRESENTATIVE WAS NOT A PARTY TO, AND DID NOT AGREE TO OR PARTICIPATE IN, THE REPURCHASE AGREEMENT BETWEEN THE FIRM AND THE RELEVANT REGULATORY BODIES. THE NAMED REPRESENTATIVE DID NOT MAKE ANY PAYMENTS TO THE CLIENT AND THE NAMED REPRESENTATIVE WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE SETTLEMENT AMOUNT. THE LISTED "SETTLEMENT AMOUNT" REPRESENTS ONLY THE GROSS INITIAL PAR VALUE OF THE ARS POSITION AND DOES NOT TAKE INTO ACCOUNT THE ACTUAL VALUE OF THE ARS POSITION AT THE TIME THE FIRM RECEIVED IT BACK FROM THE CLIENT IN CONNECTION WITH THE SETTLEMENT. THIS MATTER IS BEING REPORTED AS A SETTLEMENT PURSUANT TO THE REQUIREMENTS OF FINRA REGULATORY NOTICE 09-12.
Date: April 28, 2004 Category: Customer Dispute Allegations: CLAIMANT ALLEGES UNSUITABILITY, EXCESSIVE TRADING, CHURNING, NEGLIGENCE, FRAUD, BREACH OF FIDUCIARY DUTY, AND THE USE OF MARGIN. Damage Amount Requested: $450,000.00 Damages Granted: $35,616.00 Broker Comment: THE REPRESENTATIVE STATES THAT THE CLIENT GAVE DISCRETIONARY TRADING AUTHORITY TO HER BROTHER, WHO PLACED ALL TRADES WITHOUT THE REPRESENTATIVE'S SOLICITATION. THE REPRESENTATIVE STATES THAT HE ADVISED AGAINST THE USE OF LEVERAGE (MARGINS), AND THE CLIENT REFUSED HIS REQUESTS TO SUPERVISE THE BROTHER'S TRADING. CLIENT WAS AWARDED $35,616 OF THE $450,000 CLAIMED AND WAS PAID BY THE FIRM WITH NO FINANCIAL RESPONSIBILITY ASSIGNED TO REPRESENTATIVE.
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