The newly-formed FINRA was asked to adjudicate two arbitration complaints against brokerage firm Morgan Keegan and fund manager James C. Kelsoe for two high net worth clients. The actions were filed by the Stoltmann Law Offices.

The arbitration statements of claim allege fraud, misrepresentations and omissions related to the failure of the firm and Kelsoe to fully disclose risks associated with the Morgan Keegan mutual fund investments in subprime related sectors, according to Andrew Stoltmann, of Stoltmann Law Offices, in Chicago .

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