Investors Accuse Morgan Stanley Of Unauthorized Trading

John Martin Kelley Jr. of Northfield New Jersey a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on October 12, 2018 in which the customer sought damages estimated to exceed $5,000.00 in damages based in part on accusations that unauthorized stock trades were effected in the customer’s account between February of 2014 and June of 2016.

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Kelley has been identified in two additional customer initiated investment related disputes containing allegations of his misconduct while employed with Janney Montgomery Scott LLC and Wells Fargo Advisors.

Specifically, on December 17, 2001, a customer initiated investment related complaint involving Kelley’s conduct was resolved for $40,000.00 in damages founded on accusations that while Kelley was associated with Janney Montgomery Scott LLC: the customer’s account was handled in a negligent manner; over-the-counter equity transactions were executed in the customer’s account that were not suitable for the customer; contractual obligations to the customer had been breached; transactions were placed in violation of Securities Exchange Act of 193 and New Jersey Securities Act; the customer’s funds had been converted; and the customer had been defrauded. National Association of Securities Dealers (NASD) Arbitration No. 02-00952 (July 15, 2003).

Thereafter, a customer initiated investment related complaint concerning Kelley’s activities was settled for $175,000.00 in damages based upon allegations that while Kelley was associated with Wells Fargo Advisors, the customer was inappropriately sold an auction rate security which led the customer to suffer from illiquidity.

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