According to the Financial Industry Regulatory Authority (FINRA), the regulator has suspended financial advisor Christian De Berardinis (CRD#: 4312327) from acting as a broker for 24 months.
From February 2020 to August 2021, De Berardinis, a Morgan Stanley advisor, allegedly participated in private offerings of securities that raised $2.45 million from four firm customers. De Berardinis purportedly participated in these private securities transactions without providing prior written notice to, or receiving approval from, Morgan Stanley. As a result, De Berardinis allegedly violated FINRA Rules 3280 and 2010.
During the relevant period, De Berardinis allegedly facilitated the investments of four firm customers in a private placement offering by a dairy company.
In addition to the lengthy suspension, De Berardinis was fined $15,000 and required to pay restitution of $22,500 plus interest. According to FINRA, De Berardinis is not currently registered or associated with any FINRA member.
FINRA 3280 and Outside Investments
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FINRA Rule 3280 prohibits brokers from engaging in “selling away,” or conducting securities transactions outside their firm without proper approval. Before participating in any private securities transaction, a broker must provide written notice to their firm, detailing the transaction and stating whether they expect to receive compensation.
If compensation is involved, the firm must give written approval or disapproval. A private securities transaction is defined as any transaction outside the broker’s regular duties with the firm, and selling compensation includes any form of payment related to the sale of a security.
FINRA BrokerCheck – Christian De Berardinis
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
Investors can use the tool to verify whether a broker or brokerage firm is registered with FINRA, as well as to review their employment history, licensing status, and any regulatory actions or complaints filed against them.
Christian De Berardinis was reportedly registered with the following brokerage firms during his career in the securities industry:
07/20/2015 – 07/20/2023, MORGAN STANLEY (CRD#:149777), New York, NY 07/12/2011 – 08/05/2015, J.P. MORGAN SECURITIES LLC (CRD#:79), MIAMI, FL
Free Consultation for Investors
If you have suffered investment losses with Christian De Berardinis and Morgan Stanley, the investment fraud lawyers at Haselkorn & Thibaut may be able to help you recover your losses. With over 50 years of experience and a 98% success rate, their team is dedicated to fighting for investors’ rights.
For a free consultation to discuss your case and explore your options for recovery, call Haselkorn & Thibaut at 1-888-885-7162 or visit their website at www.investmentfraudlawyers.com. Don’t let investment fraud go unchecked – take action today to protect your financial interests.
