Jean-Pierre Gobic Allegedly Made Misrepresentations
The White Law Group is currently investigating potential FINRA arbitration lawsuits involving Jean-Pierre Gobic ( CRD#: 4380699), a financial advisor with Morgan Stanley in Sarasota, FL.
Customer Complaints: Jean-Pierre Gobic
According to his FINRA BrokerCheck record, Jean-Pierre Gobic has a recent customer complaint filed against him. “Claimants alleges violations of Reg BI and Misrepresentation with respect to alternative investment strategy – 2021 to 2023.” The complaint is currently pending.
Gobic reportedly has two other complaints filed against him in 2008 for allegations involving auction rate securities. Both were reportedly settled.
What is an Alternative Investment?
An alternative investment is considered any investment that doesn’t fall within the traditional stocks and bonds category. Most alternative investments have fewer regulations from the Securities and Exchange Commission (SEC) and are typically illiquid. While historically aimed at institutional or accredited investors, alternative investments have become more popular with retail investors through alternative funds. Some examples would be non-traded REITs, 1031 DST private placement investments, and non-traded BDCs (Business Development Companies).
What Investors Can Do
If you invested with Jean-Pierre Gobic or Morgan Stanley and suffered financial losses, you may have legal options. FINRA provides a dispute resolution forum that allows investors to pursue claims against financial advisors and brokerage firms for misconduct.
Brokerage Firms’ Duty to Supervise
Brokerage firms have a legal obligation to adequately supervise their advisors. Failure to detect or prevent advisor misconduct—such as fraud or unsuitable recommendations—can make the firm liable for losses through FINRA arbitration.
FINRA Arbitration vs. Class Action
Many investors wonder if a class action lawsuit is better than pursuing an individual FINRA arbitration claim. Generally:
- If your losses exceed $100,000, individual arbitration may be more appropriate.
- Class actions are typically better suited for smaller, uniform claims.
Contact The White Law Group
If you lost money investing with Jean-Pierre Gobic and Morgan Stanley or believe you may have been a victim of misconduct, contact The White Law Group at (888) 637-5510 for a free consultation. Our firm handles securities fraud cases in all 50 states, including Florida.
Frequently Asked Questions (FAQ)
1. What is FINRA arbitration and how does it work?
FINRA arbitration is a legal process that allows investors to resolve disputes with financial advisors or brokerage firms without going to court. A panel of neutral arbitrators hears evidence and issues a binding decision.
2. What is Regulation Best Interest (Reg BI)?
Regulation Best Interest (Reg BI) is a rule adopted by the Securities and Exchange Commission (SEC) that requires brokers to act in the best interest of their retail customers when making investment recommendations. Effective as of June 30, 2020, Reg BI obligates financial advisors to disclose conflicts of interest, exercise reasonable diligence when recommending investments, and avoid placing their own financial interests ahead of their clients’. Violations of Reg BI can serve as grounds for FINRA arbitration claims.
3. How much does it cost to file a FINRA claim?
Most securities attorneys, including The White Law Group, work on a contingency fee basis, meaning there are no upfront legal fees. You only pay if you recover compensation.
