Investor Alleges Leslie Degroot Failed to Promptly Liquidate Investments

Leslie Degroot (CRD #: 2178910), a broker registered with Morgan Stanley, allegedly failed to execute a client’s liquidation instructions, according to his BrokerCheck record, accessed on May 16, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On February 1, 2023, an investor alleged that Leslie Degroot failed to follow instructions by failing to promptly liquidate investments in order for the client to close his account.

Leslie Degroot allegedly failed to liquidate the client’s investments between December 7, 2021, and January 30, 2023. This dispute was denied by the firm.

However, investors should know that firms don’t need to permit an outside review when denying disputes. Investors can still pursue FINRA arbitration following a denial and may be able to recover their losses.

FINRA Rule 5310

FINRA Rule 5310 requires brokers to promptly execute clients’ transactions according to their instructions.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Leslie Degroot has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Leslie Degroot is a registered broker in 14 states and a registered investment adviser in Illinois and Texas.

He has also worked for the following firms:

• UBS Financial Services (CRD#:8174)
• J. P. Morgan Securities (CRD#:18718)
• JPMorgan Securities (CRD#:16999)
• Banc One Securities Corporation (CRD#:16999)
• First Chicago NBD Investment Services (CRD#:17516)
• The Machaira Group (CRD#:27895)
• Everen Securities (CRD#:19616)

Kurta Law Can Help

If you worked with Leslie Degroot and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.