Morgan Stanley Terminates Broker For Unauthorized Trading
Frank David Sardano of Toms River New Jersey a stockbroker formerly employed by Morgan Stanley Wealth Management has been terminated by the firm on October 1, 2018 founded on accusations that Sardano exercised discretion in the accounts of Morgan Stanley customers.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on June 3, 2005, a customer filed an investment related complaint involving Sardano’s activities in which the customer sought damages estimated to exceed $5,000.00 based upon allegations that while Sardano was associated with J.B. Hanauer & Co., unauthorized municipal debt purchases had been made in the customer’s investment account.
Since November 28, 2018, Sardano has been registered with Coastal Equities, Inc.
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