FINRA Bars Morgan Stanley Broker For Theft

Justin Travis Mair of Glens Falls New York a stockbroker formerly employed by Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a customer’s funds. Letter of Acceptance Waiver and Consent No. 2016051547601 (June 13, 2018).

According to the AWC, between April of 2016 and July of 2016, a customer’s investment funds had been converted by Mair. Mair reportedly procured customer WT’s account number, and executed four electronic transfers of the customer’s funds to pay expenses incurred by Mair in a personal capacity. The AWC stated that Mair was not authorized by Mair to utilize WT’s funds. FINRA considered Mair to have converted the customer’s funds as a result, and found his conduct violative of FINRA Rules 2010 and 2150(a).

Mair was discharged by Morgan Stanley on September 6, 2016, founded on accusations subject of the FINRA disciplinary action.

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