Last Updated: November 2024 (Sarasota, FL)
National securities fraud lawyers at Patil Law P.C. are investigating current Morgan Stanley broker Jean-Pierre (JP) Gobic (CRD #4380699) regarding allegations of violations of Regulation Best Interest and misrepresentation in connection with alternative investment strategies.
The investigation follows a recently filed FINRA arbitration claim raising concerns about Mr. Gobic’s investment recommendations and disclosure practices between 2021 and 2023.
Critical Insights About Sarasota Financial Advisor Jean-Pierre Gobic
- Advisor Name: Jean-Pierre D. Gobic
- CRD: 4380699
- Location: Sarasota, FL
- Current Employer: Morgan Stanley
- Classification: Registered Representative & Investment Adviser Representative
- Primary Location: 2 North Tamiami Trail, Suite 1100, Sarasota, FL 34236
- Can Jean-Pierre Gobic be sued in FINRA arbitration: Yes
- Customer Disputes: One pending, two settled
- Current Registrations: Licensed in 38 states
- Years of Experience: Since 2001
- Previous Employers: UBS Financial Services (2001-2010)
- Professional Qualifications: Series 7, 31, 66 licenses
- Exchange Registrations: FINRA, NYSE, Nasdaq, NYSE American
- Prior Settlements: Two ARS-related settlements totaling $125,000
Details of Current Investigation
A FINRA arbitration claim (Case #24-02352) filed in October 2024 alleges:
- Violations of Regulation Best Interest
- Misrepresentation of alternative investment strategies
- Investment strategy implementation issues from 2021-2023
- Concerns regarding private securities recommendations
Analysis of Alleged Misconduct
The current allegations focus on several key areas:
- Compliance with Regulation Best Interest requirements
- Disclosure of investment risks and features
- Suitability of alternative investment strategies
- Communication of material information
- Implementation of complex investment strategies
- Due diligence practices
Regulatory Framework and Investor Protection
SEC Regulation Best Interest
Reg BI requires Mr. Gobic to:
- Act in clients’ best interests
- Exercise reasonable care and skill
- Understand and disclose all material risks
- Consider reasonable alternatives
- Provide complete and accurate information
- Monitor investment strategies appropriately
FINRA Rules and Their Significance
FINRA Rule 2111 (Suitability) mandates:
- Reasonable-basis suitability analysis
- Customer-specific suitability determination
- Strategy-specific suitability evaluation
- Documentation of recommendation basis
FINRA Rule 2210 (Communications) requires:
- Fair and balanced communications
- No misleading statements
- Full disclosure of risks
- Clear explanation of investment features
Professional Background
Mr. Gobic has been in the securities industry since 2001, with significant experience in:
- Alternative investments
- Complex investment strategies
- Managed accounts
- Futures and derivatives
- Multiple state registrations
Red Flags for Investors
- Recent allegations of Reg BI violations
- History of alternative investment complaints
- Previous ARS-related settlements
- Complex investment strategy focus
- Multiple state registrations requiring oversight
- Pattern of disclosure-related issues
- Transition from major firm (UBS to Morgan Stanley)
Implications for Current and Former Clients
Current and former clients should:
- Review all alternative investments
- Evaluate investment strategy alignment
- Assess risk tolerance compatibility
- Document all communications
- Verify disclosure accuracy
- Review account statements carefully
- Consider independent portfolio review
- Understand their rights regarding misrepresentation
- Evaluate concentration in alternative investments
Patil Law P.C. Will Help You Recover Your Investment Losses
If you have suffered investment losses in an account handled by Mr. Gobic or have concerns about alternative investment strategies in your portfolio, please contact Attorney Patil online or call (800) 950-6553 for a free initial consultation. Our securities fraud attorneys work on a contingency fee basis, meaning we only get paid if we help you recover money.
