PAUL ARTHUR CHAVENSON is currently employed as a Broker and/or Investment Adviser at MORGAN STANLEY located at 1787 SENTRY PARK WEST, BUILDING 18, STE 440, BLUE BELL, PA, 19422-2347.
PAUL ARTHUR CHAVENSON has worked at MORGAN STANLEY since June 01, 2009
Disclosure History
PAUL ARTHUR CHAVENSON has 7 Disclosure Event(s).
Date: January 08, 2016 Category: Customer Dispute Allegations: Claimant alleged, inter alia, unsuitability with respect to corporate bond investments made in accounts for an unspecified time period. Damage Amount Requested: $70,000.00
Date: February 28, 2011 Category: Customer Dispute Allegations: CUSTOMER CLAIMS THAT FROM FEBRUARY 2009 TO JANUARY 2010, THE FINANCIAL ADVISOR DID NOT ADVISE HIM OF AN ALTERNATE PROCESS FOR FOREIGN BOND CONVERSIONS RESULTING IN LOSSES. Damage Amount Requested: $25,473.38 Broker Comment: I HAVE REVIEWED THE CLIENT'S ALLEGATIONS AND STRONGLY DISAGREE WITH HIS CLAIMS. WHEN THE CLIENT INQUIRED ABOUT FOREIGN BONDS BEING CONVERTED TO A CURRENCY OTHER THAN U.S. DOLLARS, I DISCUSSED THE ALTERNATE PROCESSES FOR FOREIGN BOND CONVERSIONS WITH HIM. FURTHERMORE, THE ACCOUNTS WERE U.S. ACCOUNTS AND FOREIGN BONDS WERE THEREFORE AUTOMATICALLY CONVERTED TO U.S. DOLLARS. THE FIRM HAS DENIED THE COMPLAINT ON MY BEHALF.
Date: May 05, 2006 Category: Customer Dispute Allegations: CUSTOMER ALLEGED FINANCIAL ADVISOR MADE UNSUITABLE INVESTMENT RECOMMENDATIONS. Damage Amount Requested: $15,000.00 Settlement Amount: $54,900.00 Broker Comment: IN ORDER TO AVOID THE COSTS AND EXPENSES OF FURTHER LITIGATION, MORGAN STANLEY AND PAUL A. CHAVENSON, WITHOUT ADMITTING LIABILITY OF ANY KIND, DECIDED TO SETTLE THE CLAIMS ASSERTED. LEGG MASON SETTLED FOR $45,000.
Date: June 30, 2005 Category: Customer Dispute Allegations: CUSTOMER ALLEGES FINANCIAL ADVISOR MADE UNSUITABLE INVESTMENTS IN HIS ACCOUNT FOR AN UNSPECIFIED TIME PERIOD. Damage Amount Requested: $100,000.00 Broker Comment: THE FIRM FOUND THE ALLEGATIONS TO BE WITHOUT MERIT AND THE FACT OF THIS COMPLAINT SHOULD NOT CAUSE THE FA TO BE VIEWED NEGATIVELY.
Date: February 20, 2003 Category: Customer Dispute Allegations: CLAIMANT ALLEGES INVESTMENTS WERE UNSUITABLE BASED ON HIS FINANCIAL OBJECTIVES. Damage Amount Requested: $300,000.00 Settlement Amount: $41,611.15 Broker Comment: MEDIATION WAS HELD IN PHILADELPHIA ON JULY 8, 2005, AT WHICH TIME BOTH PARTIES AGREED TO SETTLE THIS MATTER. AS PART OF THE SETTLEMENT, THE PARTIES AGREED TO PRESENT A STIPULATED AWARD TO THE PANEL PROVIDING FOR THE EXPUNGEMENT OF MR. CHAVENSON'S CRD RECORD.
Date: June 25, 2002 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT FA WAS NEGLIGENT IN MANAGING THE CLIENT'S ACCOUNT AND DID NOT MAKE SUITABLE RECOMMENDATIONS. Damage Amount Requested: $110,479.00
Date: April 16, 2001 Category: Customer Dispute Allegations: THE CLIENT ALELGED THAT THE STOCKS PURCHASED IN HIS ACCOUNT WERE NOT SUITABLE GIVEN HIS INVESTMENT OBJECTIVE. DAMAGES ESTIMATED IN EXCESS OF $5,000.
More Information
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A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
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