Morgan Stanley Stockbroker Discharged For Unauthorized Trading
Robert C. David Jr. of Farmington Hills Michigan a stockbroker formerly employed by Morgan Stanley Smith Barney has been discharged by the securities broker dealer on March 5, 2019 supported by allegations that (1) David used false information about customers to effect bond transactions in their Morgan Stanley accounts and (2) trades were effected by the stockbroker without permission from one or more customers.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that David has been identified in two customer initiated investment related disputes containing accusations of his violative conduct while employed with Morgan Stanley Smith Barney. Specifically, David is referenced in a customer initiated investment related complaint on May 31, 2019 where the customer requested $800,000.00 in damages founded on allegations that between October of 2010 and May of 2019, unauthorized mutual fund, stock and corporate debt trades were executed by the stockbroker.
Another customer filed an investment related arbitration claim involving David’s activities in which the customer sought unspecified damages based upon accusations that corporate debt trades effected in the customer’s account between March of 2017 and March of 2019 failed to be consistent with the customer’s objectives for investing, tolerance for risk or overall circumstances. FINRA Arbitration No. 19-01418 (May 21, 2019).
David was registered with Morgan Stanley between June 1, 2009 and April 2, 2019.