Morgan Stanley Stockbroker Barred In Inquiry
Raymond Arthur Montchal of Camp Hill Pennsylvania a stockbroker formerly registered with Morgan Stanley has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity based upon accusations or findings that the stockbroker failed to respond to FINRA’s request for information about his activities while employed by Morgan Stanley. FINRA Case No. 2019061529801 (Aug. 19, 2019).
Apparently, Montchal’s lack of cooperation with FINRA’s requests initially resulted in a Notice of Suspension letter being issued to him by FINRA on May 16, 2019 and a Suspension from Association letter issued on June 20, 2019. Montchal neglected to comply with FINRA’s requirements to resolve the suspension by an August 18, 2019 deadline which resulted in the stockbroker being automatically barred by the regulator on August 19, 2019.
FINRA Public Disclosure reveals that Montchal has been identified in two customer initiated investment related disputes regarding allegations of the stockbroker’s sales practices during the time that he was registered with Morgan Stanley. Specifically, a customer initiated investment related complaint involving Montchal’s activities was resolved on July 26, 2006 for $17,816.59 in damages founded on accusations that when Montchal was associated with Citigroup Global Markets Inc., the customer was not made aware of surrender charges of fixed annuities which Montchal sold to the customer during the time that he was associated with the securities broker dealer.
Montchal is the subject of another customer initiated investment related complaint on October 22, 2009 where the customer requested $7,080.63 in damages supported by allegations that government bond trades were executed by the stockbroker without the customer’s knowledge or consent during the time that the stockbroker was employed by Morgan Stanley Smith Barney.
Montchal was discharged by Morgan Stanley on January 17, 2019 founded on accusations that the stockbroker engaged in an outside business activity which he neglected to disclose to the securities broker dealer in violation of its policies and procedures.