Tag Archives: Morgan Stanley Smith Barney LLC

Morgan Stanley Sued By Investors For Misappropriation

Sumitro Pal of Bethesda Maryland a stockbroker formerly registered with Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim in which the customer sought unspecified damages supported by accusations that the customer’s funds had been misappropriated through an investment held by the customer outside the firm’s auspices between 2013 […]

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Investors Accuse Morgan Stanley Of Excessive Trading

James Samuel Mewhinney III of Dallas Texas a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on November 19, 2018 in which the customer requested $550,000.00 in damages based upon accusations that while Mewhinney was associated with Morgan Stanley: (1) Mewhinney effected trades in the customer’s […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

William Lief Collins (also known as Bill Collins) of Birmingham Michigan a stockbroker currently employed by Morgan Stanley is the subject of a customer initiated investment related written complaint which was resolved for $8,973.25 on November 22, 2016 founded on allegations that unauthorized trades were effected in the customer’s brokerage and variable annuity accounts while […]

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Morgan Stanley Accused Of Misrepresenting Fees

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

John Blair Knoth of Carlsbad California a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related written complaint on August 22, 2018 where the customer sought unspecified damages based upon accusations that misrepresentations had been made to the customer concerning commissions charged on options trades placed in the customer’s […]

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SEC Bars Morgan Stanley Stockbroker For Fraud

Cornelius Peterson of Boston Massachusetts an investment adviser representative and stockstockbroker formerly employed by Morgan Stanley has been barred by the Securities and Exchange Commission (SEC) from associating with any investment advisor or stockbrokerage firm according to an Order Instituting Administrative Proceedings According to Investment Advisers Act of 1940 Section 203(f) and Securities Exchange Act […]

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Investors Blame Morgan Stanley For Bad Investment Advice

March 15, 2019  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

John I. Snyder of Fort Lauderdale Florida a stockbroker currently employed by Morgan Stanley is the subject of a customer initiated investment related written complaint which was resolved for $8,000.00 on March 20, 2017 based upon accusations that investment recommendations made to the customer were not suitable given that possible mutual fund breakpoint discounts had […]

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Investors Sue Morgan Stanley For Sale Of Unsuitable Bonds

Mikhail Jared Hess of San Francisco California stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim where the customer sought $75,000.00 in damages supported by accusations that between October of 2014 and January of 2016, unsuitable corporate debt transactions had been effected in the customer’s account. Financial industry […]

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Morgan Stanley Sued By Investors For Securities Fraud

Ganesh Iyer (also known as Ganesh Ramachandran) of Houston Texas a stockbroker formerly registered with Morgan Stanley has been named in a customer initiated investment related arbitration claim in which Iyer and Morgan Stanley were ordered by a FINRA Arbitration Panel to pay $54,954.04 in compensatory damages to the customer based upon the Panel finding: […]

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Investors Accuse Morgan Stanley Of Bad Investment Advice

March 07, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Drew Martin Reinhardt of Doylestown Pennsylvania a stockbroker currently employed by Morgan Stanley is the subject of a customer initiated investment related written complaint which was resolved for $49,999.99 on December 20, 2018 supported by accusations that the customer was poorly advised with respect to the sale of AutoZone equities from the customer’s investment portfolio. […]

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Investors Blames BBVA In Currency Mishap

March 04, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Mario Omar Martinez Chavez of El Paso Texas a stockbroker formerly registered with BBVA Securities Inc. is the subject of a customer initiated investment related written complaint on March 28, 2018 where the customer requested more than $5,000.00 in damages founded on accusations that Chavez neglected to abide by the customer’s instructions pertaining to a […]

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Regulator Bars Morgan Stanley Broker Naming Himself Customer’s Beneficiary For Elder Abuse

John Anthony Waszolek of Scottsdale Arizona a stockbroker formerly employed by Raymond James Associates Inc. is referenced in an Arizona Corporation Commission Order revoking his securities registration in the State of Arizona based on findings that Waszolek engaged in unethical practices in the securities industry through steering an investor with dementia towards making Waszolek a […]

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Investors Sue Morgan Stanley For Bond Fraud

February 20, 2019  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Angel Edgardo Aquino-Velez of Miami Florida a stockbroker formerly employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim where the customer requested unspecified damages founded on accusations that between 2011 and 2017, closed-end fund and municipal debt transactions were executed in the customer’s account that were not suitable for the […]

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Morgan Stanley Fires Broker For Trading Dead Customer’s Account

February 19, 2019  |   Posted by :   |   Churning, Stockbroker Fraud News   |   0 Comments

Daniel Patrick Reilly of New York New York a stockbroker formerly employed by Morgan Stanley has been discharged by the firm on May 18, 2018 supported by allegations that Reilly executed trades in a deceased customer’s investment account. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Reilly is referenced in two customer initiated investment […]

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FINRA Nails Morgan Stanley Stockbroker For Lying

January 28, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Gregory Scott Taylor of Dallas Texas a stockbroker formerly employed by Morgan Stanley Smith Barney has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Order Accepting Offer of Settlement containing findings that Taylor: (1) failed to disclose information about being a beneficiary, […]

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FINRA Bars Morgan Stanley Broker In Investigation

Daniel Todd Levine of Greenwood Village Colorado 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 Levine failed to cooperate with FINRA’s investigation into accusations that (1) Levine engaged in unauthorized trading of customer accounts […]

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Sigma Financial Broker Fined For Unauthorized Trading

Gregory Joseph Rusnak of St. Charles Illinois a stockbroker formerly registered with Sigma Financial Corporation has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Rusnak executed unauthorized trades in the accounts of Sigma Financial Corporation customers. Letter of Acceptance […]

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Morgan Stanley Broker Fined For Unauthorized Trading

January 19, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Frank Fornshell Venable II of Knoxville Tennessee a stockbroker currently registered with Morgan Stanley has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Venable placed unauthorized trades in Morgan Stanley customers’ accounts. Letter of Acceptance Waiver and Consent No. […]

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Investors Accuse Morgan Stanley Of Annuity Fraud

John Jeffrey Clay of Washington District of Columbia a stockbroker formerly registered with Morgan Stanley Smith Barney is referenced in a customer initiated investment related written complaint on January 25, 2017 in which the customer sought unspecified damages based upon allegations that the customer was inappropriately sold a variable annuity investment in July of 2016. […]

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Investors Sue Morgan Stanley For Unsuitable Options Trading

January 06, 2019  |   Posted by :   |   Options, Stockbroker Fraud News, Suitability   |   0 Comments

Izhar Shefer of Aventura Florida a stockbroker formerly employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim in which the customer sought $700,000.00 in damages founded on accusations that Shefer engaged in unsuitable trading of options and equities in the customer’s managed account between 2011 and 2017. Financial Industry Regulatory […]

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Investor Accuses Morgan Stanley Of Fixed Income Fraud

Carlos Aurelio Alvarado of Houston Texas a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on November 8, 2018 where the customer sought unspecified damages supported by accusations that between 2005 and 2018, Alvarado executed corporate debt transactions in the customer’s account that were not suitable for […]

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Investor Sues Morgan Stanley For Bad Investments

December 21, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Barbara Jeane Zech of Palm Beach Gardens a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim which was resolved for $55,000.00 in damages founded on allegations that equity transactions were effected in the customer’s account between 2015 and 2017 that were not suitable for the customer. Financial […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

December 13, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

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 […]

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Morgan Stanley Stockbroker Fined For Unauthorized Trading

November 30, 2018  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Richard Aloysius Juracka of New York New York a stockbroker currently registered with Morgan Stanley has been fined $50,00.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in Morgan Stanley customers’ accounts. Letter of Acceptance Waiver and Consent […]

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FINRA Bars Morgan Stanley Broker For Failure To Cooperate

November 12, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Scott William Hartman of Dallas Texas 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 allegations that he neglected to furnish information to FINRA personnel inquiring into his activities. Case No. 2016049225001 (May 31, 2017). FINRA Public Disclosure reveals […]

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Morgan Stanley Stockbroker Barred For Hindering Investigation

November 12, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Bruce Arnold Plyer of Florham Park New Jersey 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 obstructed a FINRA investigation into allegations that he placed unapproved trades in customers’ investment accounts. Letter of […]

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Morgan Stanley Sued By Investors For Excessive Trading

Frank Fornshell Venable III of Knoxville Tennessee a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages supported by accusations of excessive trading of the customer’s investments including (a) structured products (b) unit investment trusts and (c) mutual funds. Financial Industry […]

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Morgan Stanley Discharges Broker For Misconduct

November 03, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Daniella Rebecca Rand of San Francisco California a stockbroker formerly employed by Morgan Stanley has been discharged by the firm on March 6, 2017 based upon Morgan Stanley’s allegations that Rand violated the firm’s customer correspondence directives and provided inaccurate or incomplete information to the firm in regard to Rand’s activities when investigated for misconduct. […]

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Morgan Stanley Terminates Broker For Outside Activities

Jorey T. Bernstein of Beverly Hills California a stockbroker formerly employed by Morgan Stanley has been has been terminated on December 9, 2015 founded on Morgan Stanley’s accusations that Bernstein engaged in outside business activities and unauthorized arrangements with a third party. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Bernstein is also the […]

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Investors Complain Morgan Stanley Sold Bad Closed End Funds

October 22, 2018  |   Posted by :   |   Closed End Funds, Stockbroker Fraud News   |   0 Comments

Timothy Floyd Holladay of Mobile Alabama a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on August 18, 2017 in which the customer requested $14,000.00 in damages based upon accusations that between April of 2012 and April of 2016, Holladay invested the customer’s money in closed-end funds […]

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Morgan Stanley Accused Of Misrepresentation

October 22, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Karl C. Walz of Shiloh Illinois a stockbroker formerly employed by Morgan Stanley is referenced in a customer initiated investment related written complaint which was resolved for $4,511.02 on July 6, 2017 based upon accusations that misrepresentations had been made to the customer concerning the fees charged for the customer’s in-house money manager account. Financial […]

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Morgan Stanley Sued By Investors For Shoddy Investments

October 22, 2018  |   Posted by :   |   FINRA Securities Arbitration, Options, Stockbroker Fraud News   |   0 Comments

Shawn David Olson of Scottsdale Arizona a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim where the customer sought $5,000,000.00 in damages founded on accusations that Olson executed options transactions in the customer’s account that were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration […]

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FINRA Fines Morgan Stanley Stockbroker For Customer Loans

October 22, 2018  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

John-Aaron Lenhert of Laguna Niguel California a stockbroker formerly employed by Morgan Stanley has been fined $7,500.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unauthorized customer loan arrangements. Letter of Acceptance Waiver and Consent No. […]

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Morgan Stanley Broker Barred In Investigation

October 22, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

John Halsey Buck III of Boston Massachusetts a stockbroker formerly registered with Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Buck obstructed FINRA’s investigation into allegations that he engaged in unauthorized private securities transactions. Letter of Acceptance Waiver and […]

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FINRA Bars Morgan Stanley Broker For Failure To Cooperate

October 22, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kevin Peter Smith of Minneapolis Minnesota a stockbroker formerly registered with 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 failed to cooperate with FINRA’s investigation into accusations that Smith traded in a Morgan Stanley customer’s account without procuring […]

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Investors Blame Morgan Stanley For Unauthorized Trading

Carl Dennis Hanks of Morristown New Jersey a stockbroker formerly registered with Morgan Stanley Smith Barney is referenced in a customer initiated investment related written complaint on March 11, 2016 where the customer requested unspecified damages based upon allegations that unauthorized mutual fund purchases had been effected in the customer’s account. Financial Industry Regulatory Authority […]

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Morgan Stanley Broker Suspended For Ignoring FINRA Requests

October 04, 2018  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

Francisco Javier Valenzuela of Tucson Arizona a stockbroker formerly employed by Morgan Stanley has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that he did not respond to a FINRA request regarding his activities. Case No. 2018057266701 (Aug. 13, 2018). FINRA Public Disclosure reveals that […]

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Morgan Stanley Terminates Broker For Outside Activities

September 28, 2018  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Raymond Keith Malicki of Easton Pennsylvania a stockbroker formerly employed by Morgan Stanley Wealth Management has been terminated from the firm on July 12, 2018 based upon allegations that Malicki executed transactions in a customer’s account held away from the firm. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Malicki is referenced in three […]

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Investors Sue Morgan Stanley For Bad UIT Investments

Jonathan William Lonske of Boston Massachusetts a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related written complaint on October 3, 2017 where the customer requested unspecified damages supported by allegations that between 2009 and 2016, Lonske executed unsuitable closed-end funds, structured products and unit investment trust transactions in the […]

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Morgan Stanley Sued For Bad Municipal Bond Sales

John Thomas Guzy of Morristown New Jersey a stockbroker formerly employed by Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages supported by allegations that between 2012 and 2015, the customer was placed in municipal debt investments that were not suitable for […]

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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 […]

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FINRA Investigates Morgan Stanley Broker For Unauthorized Trading

August 25, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Stewart Clinton Malloy of Riverhead New York a stockbroker formerly registered with Morgan Stanley is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice in which FINRA has made a preliminary determination for Malloy to face disciplinary action for failing to testify in a FINRA investigation in possible violation of FINRA Rules 2010 […]

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Morgan Stanley Sued by Investors For Bad Investments

Jeffrey David Wiseman of Oxnard California a stockbroker formerly employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages founded on allegations that unsuitable municipal debt and unit investment trust transactions were executed in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. […]

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Morgan Stanley Terminates Broker For Unauthorized Activity

August 25, 2018  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Hayes Griffin Miller of Garden City New York a stockbroker formerly registered with Morgan Stanley has been terminated by the firm on September 26, 2017 based upon accusations that Miller accepted a fee payment pertaining to an investment banking transaction that had been executed without the firm’s permission. On October 10, 2017, Miller became employed […]

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Morgan Stanley Stockbroker Charged With Stealing

August 25, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

John William Cutshall of Frederick Maryland a stockbroker formerly employed by Morgan Stanley has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Cutshall (1) converted a customer’s funds (2) improperly utilized customer funds (3) failed to abide by standards of commercial honor and principles of trade and (4) made misrepresentations […]

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Morgan Stanley Sued By Customer For Failure To Supervise

Richard Joseph Less Jr. of Fairfield New Jersey a branch manager currently registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim in which the customer requested $2,193,015.00 in damages supported by allegations of the failure to supervise an advisor’s management of transactions effected in a customer’s investment account between […]

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Morgan Stanley Broker Investigated For False Statements

August 17, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Adele Millicent Polakoff (also known as Adele M. Naidoff) of Paramus New Jersey a stockbroker currently employed by Morgan Stanley is under investigation by Connecticut Department of Banking concerning allegations that Polakoff possibly committed a violation of Connecticut Uniform Securities Act Section 36b-23 by making misleading and false statements in an examination into her activities. […]

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Morgan Stanley Broker Discharged For Unauthorized Trading

August 13, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Larry Dean Lavoice of New York New York a stockbroker formerly employed by Morgan Stanley Smith Barney has been discharged by the firm on December 8, 2017 founded on allegations that Lavoice effected transactions in customer’s non-discretionary investment accounts without consenting with customers and obtaining their permission. Lavoice has previously been censured, fined $25,000.00 and […]

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Morgan Stanley Stockbroker Barred For Avoiding FINRA

July 16, 2018  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Deanne M. Lampe of Morristown New Jersey a stockbroker formerly registered with Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that she failed to reply to FINRA personnel concerning information about her business activities. Case No. 2017053777501 (Jan. 19, 2018). FINRA Public […]

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Investors Sue Morgan Stanley For Bad Recommendations

July 16, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Anthony Edward Dacruz of New York New York a stockbroker currently registered with Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim where the customer sought $200,000.00 in damages based upon allegations that the customer was placed into municipal debt products between December of 2012 and August of 2017 […]

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Morgan Stanley Terminates Broker For Unapproved Activities

July 12, 2018  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Kenneth Joseph Kavanagh of New York New York a stockbroker formerly employed by Morgan Stanley has been terminated by the firm on April 16, 2018 founded on allegations that Kavanagh engaged in unapproved outside business activities involving customers of the firm. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on May 25, 2016, […]

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Morgan Stanley Broker Terminated For Customer Loan

July 12, 2018  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Philip Albert Schreiner of San Antonio Texas a stockbroker formerly employed by Morgan Stanley has been discharged by the firm on April 18, 2018 founded on allegations that Schreiner (1) partook in the solicitation of outside real estate investments and other activities involving a firm customer and (2) engaged in an unapproved customer loan arrangement. […]

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Morgan Stanley Accused Of Annuity Misconduct

June 30, 2018  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Vincent Michael Magee of Marco Island Florida a stockbroker formerly employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on January 18, 2018 where the customer alleged that on August 18, 2017, a variable annuity purchase had been effected without the customer’s consent. Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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Morgan Stanley Broker Terminated For Violating Policy

June 30, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Nordo M. Nissi of Boston Massachusetts a stockbroker formerly registered with Morgan Stanley Wealth Management has been terminated on April 9, 2018 supported by accusations that Nissi neglected to inform the firm about his involvement with an investment advisor and failed to procure the firm’s approval. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that […]

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Morgan Stanley Fined $3.6 Million In Stockbroker Theft Case

June 29, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Barry F. Connell a Morgan Stanley stockbroker from Ridgewood, New Jersey “allegedly” stole or misappropriated approximately $7 million from several his clients in more than 110 transactions. Connell was charged by the SEC in February 2017, has been criminally charged by the U.S. Attorney’s Office for the Southern District of New York. These charges remain […]

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Customer Sues Morgan Stanley For Excessive Trading

June 25, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Susan E. Gnall of Morristown New Jersey a stockbroker registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim where the customer alleged unspecified damages supported by accusations that Gnall excessively effected municipal debt trades in the customer’s investment account between February of 2014 and April of 2016. Financial Industry Regulatory […]

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FINRA Bars Morgan Stanley Principal For Bad Supervision

June 25, 2018  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Terry Lee McCoy of Palm Harbor Florida a stockbroker and supervisor employed by Morgan Stanley has been fined $75,000.00 and barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity based upon consenting to findings that he failed to supervise two registered representatives that placed excessive and unsuitable trades in […]

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Customer Sues Morgan Stanley For Bad Investments

June 25, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Marc Frederick Strasser of Boca Raton Florida a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim in which the customer requested $50,000.00 in damages based upon accusations that unsuitable municipal debt transactions had been executed in the customer’s account between 2011 and 2016. FINRA Arbitration No. […]

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Morgan Stanley Broker Suspended For Outside Business Activities

June 21, 2018  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Kenneth K. Jobson of Saint Petersburg Florida a stockbroker formerly employed by Morgan Stanley has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in undisclosed outside business activities. Letter of Acceptance Waiver and Consent […]

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Morgan Stanley Accused Of Bond Fraud

June 21, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Gloria Ann Walas of Pepper Pike Ohio a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on February 26, 2018 where the customer alleged that the customer’s municipal bond investment was induced by misrepresentation. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that on July […]

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FINRA Investigates Morgan Stanley Broker For Forgery

June 12, 2018  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Michael Scott Christians of Plano Texas a stockbroker formerly employed by Morgan Stanley Smith Barney LLC is the subject of a Financial Industry Regulatory Authority (FINRA) investigation into allegations that Christians forged a customer’s signature on account documentation. FINRA Public Disclosure confirms that Christians has been discharged by Morgan Stanley on January 3, 2018 based […]

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Morgan Stanley Broker Suspended For Unauthorized Trading

May 29, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert N. Newman of Los Angeles California a stockbroker currently employed by Morgan Stanley Smith Barney has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that executed trades in a customer’s account without securing the customer’s permission. Letter of Acceptance […]

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Customer Accuses Morgan Stanley Of Excessive Trading

Barry Lee Garapedian of Westlake Village California a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related written complaint on April 1, 2018 in which the customer requested $713,000.00 in damages founded on allegations that (1) the customer’s assets were overconcentrated in speculative investments (2) closed end fund and exchange […]

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Morgan Stanley Terminates Broker For Failure To Disclose

May 17, 2018  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Robert William Urban of Riverhead New York a stockbroker registered with Morgan Stanley has been terminated by the firm on February 28, 2018 supported by accusations that he failed to accurately and timely disclose his participation in a customer’s real estate transaction. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Urban has been identified […]

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Morgan Stanley Sued For Unsuitable Investments

Michael Lee Canney of Des Moines Iowa a stockbroker currently employed by Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages founded on accusations that unsuitable investment recommendations had been made to the customer for the customer’s managed account between 2007 and 2017. […]

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Morgan Stanley Accused Of Unauthorized Trading

May 17, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Joseph Martin Polanski of Fort Worth Texas a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on March 22, 2018 where the customer requested more than $5,000.00 in damages founded on accusations that an unauthorized equity purchase was effected in the customer’s account on January 19, 2018. […]

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Morgan Stanley Sued By Customer For Unsuitable Direct Investments

Stephen Lowell Takowsky of Beverly Hills California a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim where the customer sought $95,032.00 in damages based upon accusations that unsuitable equity and direct investment product transactions were effected in the customer’s account between December of 2014 and November […]

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Morgan Stanley Sued For Mutual Fund Fraud

May 01, 2018  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

Christopher F. Halotek of West Hartford Connecticut a stockbroker formerly registered with Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim in which the customer alleged that misrepresentations had been made concerning mutual fund and equity products between September of 2007 and May of 2017. Financial Industry Regulatory Authority […]

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Customer Accuses Morgan Stanley Of Excessive Trading

Richard Robert Fulton of Palm Beach Gardens Florida a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related complaint which settled on October 24, 2016 for $18,822.00 in damages based upon allegations that mutual fund trades were effected in the customer’s managed account on an excessive basis between January […]

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Morgan Stanley Broker Charged for Non Traditional ETF Sales

Randall Robert Hayes (also known as Randy Hayes) of Seattle Washington a stockbroker formerly registered with Morgan Stanley is the subject of a State of Washington Department of Financial Institutions Securities Division Statement of Charges in which Hayes has been accused of making unsuitable recommendations to customers concerning investments in leverage and inverse exchange-traded funds. […]

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Morgan Stanley Broker Fined For Outside Business Activities

Arthur Robert Meunier (also known as Arthur Robert Breitman) a stockbroker formerly registered with Morgan Stanley has been fined $20,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in undisclosed outside business activities while registered with the […]

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Morgan Stanley Accused Unsuitable Bond Recommendations

April 08, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Jimmy Yang Driggers of Sarasota Florida is a stockbroker currently registered with Morgan Stanley who is the subject of a customer initiated investment related written complaint on November 22, 2016 in which the customer requested $64,000.00 in damages based upon allegations that between 2014 and 2016, purchases of corporate bonds had been executed in the […]

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Customer Sues Morgan Stanley Unsuitable Recommendations

Chuck Correal of Upper Saint Clair Pennsylvania is a stockbroker formerly registered with Morgan Stanley who is the subject of a customer initiated investment related arbitration claim in which the customer alleged that equity transactions were effected in the customer’s account between 2009 and 2016 that were not suitable for the customer. Financial Industry Regulatory […]

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Morgan Stanley Broker Barred For Hindering Investigation

April 08, 2018  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

David Warren Olson of Saint Petersburg Florida is a stockbroker formerly registered with Morgan Stanley who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate in a FINRA investigation into allegations of Olson engaging in an unpermitted customer loan […]

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FINRA Investigates Morgan Stanley Stockbroker

April 08, 2018  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Ami Kathryn Forte of Palm Harbor Florida is a stockbroker formerly registered with Morgan Stanley who is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice in which FINRA has determined that disciplinary action should be brought against Forte for possibly committing violations of FINRA Rules 2010 and National Association of Securities Dealers […]

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Morgan Stanley Fires Broker For Unauthorized Trading

April 08, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David Hugh Bindelglass of Paramus New Jersey is a stockbroker formerly registered with Morgan Stanley who has been fired on December 20, 2017 founded on accusations that Bindelglass executed unauthorized transactions in customer accounts and made unsuitable investment recommendations to a customer. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Bindelglass has been referenced […]

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Morgan Stanley Sued By Customer Unsuitable Recommendations

April 08, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Brian John Bogart of McLean Virginia is a stockbroker formerly registered with Morgan Stanley who is the subject of a customer initiated investment related arbitration claim where the customer requested $25,711.11 in damages supported by accusations that unsuitable transactions were placed in the customer’s in-house money manager account between 2015 and 2016. Financial Industry Regulatory […]

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Morgan Stanley Broker Barred For Hindering Investigation

April 06, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Darrell Walter Rideaux of Los Angeles California is a stockbroker formerly registered with Morgan Stanley who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to testify before FINRA personnel in an investigation into allegations of Rideaux selling away from […]

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Morgan Stanley Broker Barred By FINRA For Conversion

April 06, 2018  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Brian Michael Weinstein of Lawrenceville New Jersey a stockbroker formerly registered with 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 funds and furnished false documentation to Morgan Stanley. Letter of Acceptance Waiver and Consent No. 20140438633-01 (Nov. […]

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Customer Sues Morgan Stanley For Suitability

March 22, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Joseph Edward Pastore of El Segundo, California is a stockbroker currently registered with Morgan Stanley Smith Barney who is the subject of a customer initiated investment related arbitration claim in which the customer sought $975,000.00 in damages founded on accusations that unsuitable securities purchases were effected in the customer’s managed account between 2013 and 2015. […]

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Morgan Stanley Broker Fired For Unapproved Customer Loan

March 22, 2018  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Ellen Jane Donnelly of Red Bank New Jersey is a stockbroker registered with Morgan Stanley Wealth Management who has been fired on December 27, 2016 based upon accusations of Donnelly’s misconduct with regard to a customer loan arrangement. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Donnelly is the subject of a customer initiated […]

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Morgan Stanley Broker Barred For Unauthorized Trading

March 22, 2018  |   Posted by :   |   Churning, Stockbroker Fraud News   |   0 Comments

Thomas Alan Meier of Miami Florida is a stockbroker formerly registered with Morgan Stanley who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected unauthorized and discretionary trades in customer accounts. Letter of Acceptance Waiver and Consent No. 2016049628301 (Mar. 19, […]

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Morgan Stanley Sued By Customer For Suitability

March 12, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Jeffrey Joseph McDonald of Palm Harbor Florida is a stockbroker currently registered with Morgan Stanley who is the subject of a customer initiated investment related arbitration claim where the customer requested two hundred fifty thousand dollars in damages supported by allegations that unsuitable investment recommendations had been made to the customer relating to buying and […]

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Morgan Stanley Stockbroker Barred For Failure To Comply

March 11, 2018  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Michael Bruce Ralby of Boca Raton Florida is a stockbroker formerly registered with Morgan Stanley Smith Barney who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations that he entered into unauthorized […]

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Customer Accuses Morgan Stanley Of Unsuitable Recommendations

March 07, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Laurence Bache Rossbach of New York New York is a stockbroker formerly employed with Morgan Stanley who is the subject of a customer initiated investment related written complaint on October 3 2017 in which the customer sought forty-four thousand dollars in damages based upon allegations that stock transactions had been effected in the customer’s account that […]

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Morgan Stanley Accused By Customer Of Misrepresentation

March 07, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Joseph Smith Stern III of San Francisco California is a stockbroker currently associated with Morgan Stanley who is the subject of a customer initiated investment related written complaint on September 26 2017 in which the customer alleged that Stern made misrepresentations to the customer between 2012 and 2017 regarding the risks relating to high yield […]

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Morgan Stanley Accused Of Unauthorized Trading

March 07, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Eugene Nathan Gordon of Palo Alto California is a stockbroker currently associated with Morgan Stanley who is the subject of a customer initiated investment related written complaint on October 27 2017 in which the customer sought one million nine hundred thirty-eight thousand one hundred eighty-eight dollars in damages based upon accusations that Gordon placed trades […]

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Morgan Stanley Fires Broker For Improper Customer Loan

March 07, 2018  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Douglas Edward Kary of San Diego California is a stockbroker formerly associated with Morgan Stanley who was fired on April 1 2016 based upon allegations that Kary entered into an unapproved loan arrangement between a firm customer and an outside entity that Kary was involved in. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that […]

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Morgan Stanley Broker Fired For Unauthorized Trading

March 07, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Christopher Adam Seshadri of New York New York is a stockbroker formerly registered with Morgan Stanley who was fired on March 1 2016 based upon accusations that he utilized discretion in customers’ accounts without authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Seshadri is referenced in three customer initiated investment related disputes pertaining […]

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FINRA Bars Morgan Stanley Broker For Failure To Testify

February 20, 2018  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Kevin Scott Woolf of Winter Haven Florida is a stockbroker formerly registered with Morgan Stanley that has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to testify or provide documentation to FINRA in regard to allegations of his private securities […]

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FINRA Fines Morgan Stanley Stockbroker For Suitability

Vincent Sciabica of Albany New York is a stockbroker formerly registered with Morgan Stanley who has been fined five thousand dollars and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unit investment trust transactions in customer accounts in […]

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Morgan Stanley Stockbroker Suspended For Unsuitable Investments

February 20, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Thomas Francis Niles of Saratoga Springs New York is a stockbroker associated with Morgan Stanley who has been fined five thousand dollars and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected transactions in customer accounts that were not […]

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Morgan Stanley Fires Broker For Unauthorized Trading

February 20, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kenneth Carl Ramos of New York New York is a stockbroker formerly employed with Morgan Stanley Wealth Management that had been fired by the firm in November 2017 based upon accusations that he placed trades in customers’ non-discretionary investment accounts without ever having consulted with the customers in advance. Financial Industry Regulatory Authority (FINRA) Public […]

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Morgan Stanley Broker Fined For Unauthorized Trading

January 26, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Colin Edward Hammer, of Akron, Ohio, a stockbroker registered with Morgan Stanley, has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he placed unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016051154701 (Jan. 22, 2018). According […]

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FINRA Bars Morgan Stanley Broker For Obstruction

January 26, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Charles Albert Dixon, Junior, of Houston, Texas, a stockbroker formerly employed with Morgan Stanley Smith Barney, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into Dixon’s alleged unauthorized trading in customer […]

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Morgan Stanley Broker Fined By FINRA For Suitability

January 26, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Richard Alan Shotz, of Ormond Beach, Florida, a stockbroker formerly registered with Morgan Stanley, has been fined $7,500.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by consenting to findings that he placed short-term unit investment trust trades in customer accounts that were not […]

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Morgan Stanley Broker Barred For Impeding Investigation

January 26, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Guillermo William Valladolid, of La Jolla, California, a stockbroker formerly employed with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to comply with FINRA in an investigation into allegations of Valladolid selling away from Morgan Stanley. Letter of […]

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Customer Accuses Securities America Of Suitability

January 10, 2018  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Joseph Rawley Stowell Jr, of Peoria Heights, a stockbroker formerly registered with Securities America, Inc., is the subject of a customer initiated investment related written complaint on November 9, 2016, in which the customer sought $77,000.00 in damages founded on accusations that Stowell poorly advised the customer about investing in mutual funds and stocks, causing […]

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Morgan Stanley Sued For Excessive Trading

January 10, 2018  |   Posted by :   |   Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

Neil Stanley Kaplan of Bethesda, Maryland, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related civil action brought in the Circuit Court of Montgomery County, Maryland on December 29, 2016, in which the customer sought $435,000.00 in damages founded on accusations that in 2015, stock trades were executed in […]

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FINRA Fines Morgan Stanley Broker For Suitability

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Mircea Sauciuc of Leawood, Kansas, a stockbroker registered with Morgan Stanley Barney, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized transactions in a customer’s account and made unsuitable investment recommendations. Letter of Acceptance, Waiver and […]

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Morgan Stanley Sued By Customer For Excessive Trading

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Dean Curtis Abraham of Las Vegas, Nevada, a stockbroker currently associated with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, where the customer sought $4,700,000.00 in damages supported by accusations that from 2003 to 2016, the customer was exposed to excessive trading and charging of fees relating to her variable annuity […]

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FINRA Bars Wells Fargo Stockbroker For Suitability

January 09, 2018  |   Posted by :   |   Over Concentration, Stockbroker Fraud News, Suitability   |   0 Comments

Charles Bernard Lynch Jr. of Irvine, California, a stockbroker registered with Wells Fargo Advisors, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2015045713301 (Dec. 11, 2017). According […]

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Morgan Stanley Blamed For Unauthorized Trading

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael Darren Bell of Rochester, New York, a stockbroker registered with Morgan Stanley Smith Barney, is the subject of a customer initiated investment related written complaint on June 27, 2017, alleging that between June of 2014 and March of 2017, mutual fund trades were effected in the customer’s account without authorization. Financial Industry Regulatory Authority […]

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Customer Accuses Morgan Stanley Of Excessive Trading

January 09, 2018  |   Posted by :   |   Excessive trading, Stockbroker Fraud News   |   0 Comments

James Morgan Levitt of New York, New York, a stockbroker associated with Morgan Stanley, is the subject of a customer initiated investment related written complaint, which settled on June 19, 2017 for $9,000.00 in damages supported by allegations that between March 1, 2014 and December 31, 2014, Levitt executed excessive trades relating to closed-end funds, exchange […]

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Morgan Stanley Fires Broker For Business Activities

January 09, 2018  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

David Warren Olson of Saint Petersburg, Florida, a stockbroker associated with Morgan Stanley Wealth Management, has been fired on December 20, 2016, based upon allegations that he participated in undisclosed outside business activities and solicited a customer loan. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Olson has been identified in eight more customer […]

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Merrill Lynch Accused By Customer Of Misrepresentation

January 09, 2018  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Timothy Revell Roberson of Brentwood, Tennessee, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is the subject of a customer initiated investment related written complaint, which settled for $30,543.31 in damages supported by accusations that Roberson made misrepresentations and omissions to the customer between September of 2015 and May of 2017 in […]

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Customer Sues Morgan Stanley For Equities Suitability

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Jonathan Scott Leopold, of New York, New York, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, where the customer sought $250,000.00 in damages based upon accusations that unsuitable over-the-counter equities and direct investment products had been sold to the customer between 2009 and June of […]

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Wells Fargo Advisors Accused Of Charging Excessive Fees

December 23, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Donald Anthony Devito II, of Albany, New York, a stockbroker formerly registered with Wells Fargo Advisors, has been subject of a customer initiated investment related written complaint, which settled for $50,000.00 in damages on November 14, 2017, based upon allegations of excessive fees having been assessed on the customer’s equity transactions between December 31, 2008 […]

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Customer Sues Morgan Stanley For Unauthorized Trading

December 15, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Matthew Singer, of Aventura, Florida, a stockbroker registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, which settled for $60,000.00 in damages founded on accusations that between May of 2015 to January of 2016, Singer traded options in the customer’s account without the customer’s consent and made misrepresentations to […]

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Customer Accuses Morgan Stanley Of Unsuitable Investments

December 15, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Michael John Kurka, of Alexandria, Virginia, a stockbroker registered with Morgan Stanley, is the subject of a customer initiated investment related written complaint on October 30, 2017, in which he alleged that between 2011 and 2014, Kurka effected transactions in the customer’s in-house money manager account that were not suitable for the customer. Financial Industry […]

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FINRA Suspends Morgan Stanley Broker For Unsuitable Investments

December 15, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Charles Matthew Anderson, of Doylestown, Pennsylvania, a stockbroker registered with Morgan Stanley, has been fined $5,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he traded unit investment trusts in customer accounts that were not suitable for customers. Letter of […]

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Morgan Stanley Accused Of Misappropriation By Customer

December 15, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Karen McKinley, of Manchester, New Hampshire, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment written complaint, where the customer sought $16,951.58 in damages supported by allegations that she misappropriated the customer’s funds between 2014 and 2015. The customer’s complaint comes after Financial Industry Regulatory Authority (FINRA) barred her […]

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FINRA Fines Morgan Stanley Broker For Unauthorized Trading

December 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Paul William Lascelle of Flemington, New Jersey, a stockbroker registered with Morgan Stanley, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he engaged in the unauthorized trading of a customer’s investment account. Letter of Acceptance, Waiver and Consent, No. 2017053501901 […]

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Customer Sues Morgan Stanley Muncipal Bond Fraud

December 15, 2017  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Robert Alfred Dennison, of West Palm Beach, Florida, is the subject of a customer initiated investment related arbitration claim, where the customer sought $115,000.00 in damages based upon allegations that Dennison made unsuitable investment recommendations to the customer concerning municipal debt products effected in the customer’s account between 2013 and 2015. Financial Industry Regulatory Authority […]

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Financial Advocates Broker Terminated For Bad Structured Product Sales

November 28, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Daniel Edward Pugel of Seattle, Washington, an advisor formerly registered with Financial Advocates Investment Management, was terminated on March 20, 2017, based upon allegations that he violated Financial Industry Regulatory Authority (FINRA) suitability standards in the course of effecting structured notes products for customers. FINRA Public Disclosure reveals that Pugel is the subject of three […]

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Morgan Stanley Stockbroker Suspended Unsuitable Transactions

November 28, 2017  |   Posted by :   |   Elder Abuse, Over Concentration, Suitability   |   0 Comments

Timothy Thomas Gibbons of New Orleans, Louisiana, a stockbroker formerly registered with Morgan Stanley, has been fined $20,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to elderly customers. Letter of Acceptance, Waiver and […]

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Morgan Stanley Stockbroker Barred By Regulator

November 21, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Peter Joseph Doyle of Washington, DC, a stockbroker formerly registered with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his improper conduct as referenced in his termination from Morgan […]

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Customer Sues UBS Financial For Suitability

November 21, 2017  |   Posted by :   |   Over Concentration, Stockbroker Fraud News, Suitability   |   0 Comments

William John Paynter Jr. of Scottsdale, Arizona, a stockbroker formerly registered with UBS Financial Services Inc., is the subject of a customer initiated investment related arbitration claim on June 28, 2017, in which the customer requested $500,000.00 in damages based upon allegations of breach of contract, breach of fiduciary duty, negligence, and suitability regarding oil […]

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Morgan Stanley Broker Barred For Stealing $5 Million

November 20, 2017  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Barry Franklin Connell, of Ridgewood, New Jersey, a former stockbroker registered with Morgan Stanley, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to provide information to FINRA about his “business activities.” Case No. 2016052354501. Although FINRA does not disclose why Connell was […]

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Morgan Stanley Sued For Closed End Funds

November 20, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Edward Louis Barger, of Miami, Florida, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, in which the customer requested $400,000.00 in damages based upon allegations that unsuitable closed-end fund, stock and over-the-counter equity transactions were effected in the customer’s account between January of 2010 and […]

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Morgan Stanley Sued For Structured Product Sales

November 20, 2017  |   Posted by :   |   Stockbroker Fraud News, Structured Notes, Unit Investment Trusts   |   0 Comments

Patrick Francis Walsh, of Westlake Village, California, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, which settled for $156,000.00 in damages based upon allegations that between January of 2009 and November of 2015, Walsh effected trades in the customer’s account on an excessive basis relating […]

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Customer Sues Morgan Keegan For ETF Funds

November 20, 2017  |   Posted by :   |   Exchange Traded Funds   |   0 Comments

John James McLaughlin IV, of Ponte Vedra Beach, Florida, a stockbroker formerly registered with Morgan Keegan & Company, Inc., is subject of a customer initiated investment related arbitration claim that settled for $6,500.00 in damages, which was founded on allegations including suitability, omissions and misrepresentation, breach of fiduciary duty, breach of contract and negligence in […]

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Customer Sues LPL Financial For Churning

November 20, 2017  |   Posted by :   |   Churning, Stockbroker Fraud News   |   0 Comments

Gregory Ray Powell of Birmingham, Alabama, a stockbroker formerly registered with LPL Financial LLC, is the subject of a customer initiated investment related arbitration claim, where customers have alleged that between 2006 to 2015, their investment accounts were improperly managed, misrepresentations were made relating to investments, fees were excessively charged, and their investment portfolios were churned. […]

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Morgan Stanley Sued By Customer For Suitability

November 07, 2017  |   Posted by :   |   Bond Fraud   |   0 Comments

Robert David Frank, of Madison, Wisconsin, a stockbroker registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim that settled for $7,000.00 in damages resting on allegations that between March 1, 2012 and December 31, 2015, Frank effected unsuitable municipal bond and equity transactions in the customer’s investment account. Financial […]

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Customer Sues Morgan Stanley For Misrepresentation

November 07, 2017  |   Posted by :   |   Structured Notes, Suitability   |   0 Comments

Thomas Mark Adams of Farmington Hills, Michigan, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim, which settled for $85,000.00 in damages based upon allegations that between November 1, 2012 and January 31, 2016, Adams made misrepresentations to the customer about the suitability of structured products […]

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Customer Sues Morgan Stanley For Suitability

November 07, 2017  |   Posted by :   |   Suitability   |   0 Comments

Brian Scott Eagon, of Sewickley, Pennsylvania, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on May 9, 2016, in which the customer requested $83,300.00 in damages based upon allegations that between May 27, 2015 and May 6, 2016, mutual fund and stock investments were executed […]

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Customer Sues Morgan Stanley For Misrepresentation

November 07, 2017  |   Posted by :   |   Annuity Schemes   |   0 Comments

Helen Holmes Timpe, of Newport Beach, California, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim, in which the customer requested $55,333.00 in damages supported by allegations that between 2013 and 2016, Timpe made misrepresentations to the customer concerning variable annuities. Financial Industry Regulatory Authority (FINRA) […]

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Morgan Stanley Stockbroker Sanctioned For Selling Away

November 01, 2017  |   Posted by :   |   Selling Away   |   0 Comments

Jeffrey Michael Johnson, of Birmingham, Michigan, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been fined $10,000.00 and suspended for seven months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based on allegations of selling away from his firm. Letter of Acceptance, Waiver and Consent, No. 2016049341201 […]

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FINRA Fines Ameriprise Broker For Unsuitable Recommendations

November 01, 2017  |   Posted by :   |   Suitability   |   0 Comments

Stuart L. Pearl, of Deerfield, Illinois, a stockbroker formerly employed with Ameriprise Financial Services, Inc., is the subject of a $7,500.00 fine, and has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he exercised discretion in customer accounts and made unsuitable margin-based investment recommendations […]

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Customer Sues Wells Fargo For Suitability

October 16, 2017  |   Posted by :   |   Suitability, Unauthorized Trading   |   0 Comments

Charles Bernard Lynch Jr., of Irvine California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim on September 18, 2017, in which the customer requested $200,000.00 in damages based on allegations that Lynch effected unsuitable transactions in the customer’s account, over-concentrating the customer’s portfolio […]

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Morgan Stanley Accused Of Unauthorized Trading

October 16, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Mark David Rosenberg, of Atlanta, Georgia, a stockbroker registered with Morgan Stanley since November 1, 2011, is the subject of a customer initiated investment related written complaint on March 21, 2017, in which the customer alleged that Facebook shares were purchased in the customer’s account without the customer’s consent. Financial Industry Regulatory Authority (FINRA) Public […]

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CSSC Brokerage Stockbroker Suspended For Suitability

October 16, 2017  |   Posted by :   |   Suitability   |   0 Comments

Donald P. Southwick, of Troy, Michigan, a stockbroker formerly registered with CSSC Brokerage Services, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2016049789601 (Sept. 29, 2017). […]

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Morgan Stanley Stockbroker Barred In Investigation

October 05, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Barbara Jean Waters, of New York, New York, a stockbroker formerly registered with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by consenting to findings that she failed to testify in a FINRA investigation concerning allegations that she provided false accounting documents to her […]

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Morgan Stanley Failed To Supervise Unit Investment Trusts

October 03, 2017  |   Posted by :   |   Unit Investment Trusts   |   0 Comments

Morgan Stanley Smith Barney LLC, a FINRA member brokerage firm, has been censured, fined $3,250,000.00, and agreed to pay $9,786,964.88 in restitution to customers by consenting to findings that Morgan Stanley failed to supervise a stockbrokers’ unit investment trust trades in the firm’s customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016048805501 (Sept. 25, […]

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Ameriprise Sued For Unauthorized Trading

September 22, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jonathan Ben Mirer, of Henderson, Nevada, a stockbroker currently registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related complaint, which settled on February 7, 2017, for $20,000.00 in damages supported by allegations of unauthorized trading of foreign equities from 2009 to 2016. Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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Morgan Stanley Sued For UInsuitability

September 22, 2017  |   Posted by :   |   Suitability   |   0 Comments

Michael Edward Fitzgerald, of San Francisco, California, a stockbroker currently registered with Morgan Stanley, has been identified in a customer initiated investment related complaint on February 14, 2017, in which the customer’s claim was based on allegations of unsuitable investment recommendations of stock in 2014. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Fitzgerald […]

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Morgan Stanley Sued For Failure To Supervise

September 22, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Richard Thomas Lucker, of Tuscon, Arizona, a stockbroker formerly registered with Morgan Stanley, has been identified in a customer initiated investment related arbitration claim on March 17, 2017, where the customer requested $14,447,501.00 in damages based on allegations that Lucker failed to supervise the customer’s investment account. Since March 3, 2014, he has been employed […]

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Morgan Stanley Sued For Suitability

September 15, 2017  |   Posted by :   |   Suitability   |   0 Comments

Colin Edward Hammer, of Akron, Ohio, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim on July 27, 2016, where the customer requested $1,400,000.00 in damages based upon allegations that between 2010 and 2016, Hammer engaged in several sales practice violations including the failure to effect […]

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Raymond James Fires Broker During Investigation

September 15, 2017  |   Posted by :   |   Selling Away   |   0 Comments

Luis Jacob Alayo Riera, of Miami Beach, Florida, a stockbroker registered with Raymond James & Associates, was fired on December 22, 2016, based upon allegations that he failed to comply with the terms of an internal investigation into his activities involving the facilitation of investment activities away from Raymond James. Financial Industry Regulatory Authority (FINRA) […]

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Morgan Stanley Fired Manager For Lack of Supervision Not Really The Supervisor

September 15, 2017  |   Posted by :   |   Failure To Supervise   |   0 Comments

Jeffrey Sean Crystal, of Paramus, New Jersey, a stockbroker registered with Morgan Stanley, was terminated on May 1, 2017, based upon accusations that as branch manager, he failed to supervise a financial advisor that engaged in wrongdoing. The wrongdoer, was former Morgan Stanley stockbroker Barry Franklin Connell.  Connell, whom as of even date the subject […]

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Regulator Suspends Morgan Stanley Stockbroker

September 15, 2017  |   Posted by :   |   Excessive trading   |   0 Comments

Lewis H. Robinson, of Aventura, Florida, a stockbroker formerly registered with Morgan Stanley, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he attempted to settle a customer’s dispute away from his firm pertaining to accusations against him of […]

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Morgan Stanley Stockbroker Suspended

September 15, 2017  |   Posted by :   |   Unit Investment Trusts   |   0 Comments

Elaine D. LaCerte, of Colorado Springs, Colorado, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she pursued a unit investment trust trading strategy that was unsuitable for customers. […]

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Morgan Stanley Stockbroker Barred By Regulator

September 15, 2017  |   Posted by :   |   Forgery   |   0 Comments

Peter Michael Riley, of Plano, Texas, a stockbroker formerly registered with Morgan Stanley Smith Barney, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he neglected to respond to FINRA’s request for information concerning his business activities. Case No. 2016051087301 (Jan. 9, […]

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Morgan Stanley Broker Suspended For Unauthorized Trading

September 14, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Benjamin S. Burton, of Charlestown, West Virginia, a stockbroker formerly registered with Morgan Stanley, has been fined $7,500.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected trades in a customer’s accounts without the customer’s consent. Letter of Acceptance, […]

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Stifel Nicolaus Fires Broker For Unauthorized Trading

September 14, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Coleman Joseph Devlin, of Baltimore, Maryland, a stockbroker formerly registered with Stifel, Nicolaus & Company Incorporated, was fired on June 28, 2016, based upon allegations that he effected unauthorized trades in customer’s investment accounts. This is not the first time that Devlin has been fired for committing misconduct while associated with a broker. Financial Industry […]

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Customer Sues Morgan Stanley For Suitability

August 31, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Timothy John Platt, of Naperville, Illinois, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related complaint, which settled on October 26, 2016, for $112,500.00 in damages resting upon allegations that from June 2, 2011, and May 17, 2016, Platt effected mutual fund transactions in the customer’s account despite […]

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Morgan Stanley Stockbroker Caught Falsifying Forms

August 31, 2017  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Francisco Jose Faraco, of New York, New York, a stockbroker formerly registered with Morgan Stanley, was fired from employment on February 1, 2017, based upon allegations of his misconduct relating to customer account documentation that contained unauthorized alterations and signatures. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on September 8, 2016, a customer […]

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Customer Sues Morgan Stanley For Investment Losses

August 26, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Donald Allen Kartoon, of Beverly Hills, California, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, where the customer was awarded $4,000.00 in damages on April 6, 2017, based upon allegations that Kartoon failed to abide by the customer’s instructions to sell the customer’s position in […]

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Regulator Suspends Morgan Stanley Stockbroker

August 26, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Christopher D. Stoddard, of Norwell, Massachusetts, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he altered customer account documentation. Letter of Acceptance, Waiver and Consent, No. 2016051578601 (Aug. 16, 2017). According […]

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Customer Sues Wells Fargo Advisors For Suitability

August 17, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Steven John Szmak, of Flemington, New Jersey, is the subject of a customer initiated investment related arbitration claim on July 21, 2015, in which the customer requested $51,596.00 in damages based upon allegations that Szmak made unsuitable investment recommendations to the customer about corporate debt investments effected in the customer’s account. Financial Industry Regulatory Authority […]

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Regulator Suspends Kovack Securities Stockbroker

August 17, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Jason Eric Mininger, of Rocklin, California, a stockbroker formerly registered with Kovack Securities Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to notify FINRA staff about whether or not he complied with a customer initiated investment related settlement or arbitration […]

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Customer Sues Morgan Stanley For Misrepresentation

August 17, 2017  |   Posted by :   |   Over Concentration   |   0 Comments

Robert Charles Wyman Jr., of Hyannis, Massachusetts, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, which settled on September 12, 2016 for $70,000.00 in damages based upon allegations that Wyman made misrepresentations to the customer and effected unsuitable equity transactions in the customer’s account. Financial […]

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Customer Sues ProEquities For Suitability

August 15, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Daniel O’Hare Neville, of Crestview Hills, Kentucky, a stockbroker formerly registered with Daniel O’Hare Neville, is the subject of a customer initiated investment related written complaint on May 5, 2017, in which the customer sought $8,000.00 in damages based upon allegations that Neville made unsuitable investment recommendations to the customer regarding mutual funds, and failed […]

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Customer Sues Morgan Stanley For Suitability

August 15, 2017  |   Posted by :   |   Churning   |   0 Comments

Richard Wilson Hartnett, of West Palm Beach, Florida, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, which settled on March 30, 2017, for $87,500.00 in damages based upon allegations that he effected unsuitable and excessive stock transactions in the customer’s account. Financial Industry Regulatory Authority […]

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Morgan Stanley Broker Suspended For Unauthorized Trading

August 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Matthew M. Serth, of McClean, Virginia, a stockbroker formerly registered with Morgan Stanley, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized transactions in customers’ accounts. Letter of Acceptance, Waiver and Consent, No. 2016051495801 (July 31, 2017). […]

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Multi Financial Securities Sued For Negligence

August 15, 2017  |   Posted by :   |   Private Placement Fraud   |   0 Comments

James Joseph Bracey IV, of Martinsville, New Jersey, a stockbroker formerly registered with Multi-Financial Securities Corporation, is the subject of a customer initiated investment related arbitration claim on July 16, 2015, in which the customer requested $803,000.00 in damages based upon allegations against Bracey of negligence, violation of California Securities Law, fraudulent concealment, misrepresentation, and […]

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Regulator Bars Morgan Stanley Stockbroker For Fraud

August 02, 2017  |   Posted by :   |   Stockbroker Fraud   |   0 Comments

Kim See Isaacson, of Salt Lake City, Utah, a stockbroker formerly registered with Morgan Stanley, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a Decision & Order of Offer of Settlement containing findings that she willfully defrauded a customer, failed to abide by the […]

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Regulator Bars Ameriprise Stockbroker For Suitability

August 02, 2017  |   Posted by :   |   Stockbroker Fraud News, Unit Investment Trusts   |   0 Comments

Anthony Vincent Ferrone, of Paramus, New Jersey, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in an investigation into allegations of unsuitable trading in customer accounts. Letter of […]

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Customer Sues Morgan Stanley For Unauthorized Trading

August 02, 2017  |   Posted by :   |   FINRA Securities Arbitration, Unauthorized Trading   |   0 Comments

Alex Muscati III, of Palm Harbor, Florida, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim on May 4, 2017, in which the customer requested $123,000.00 in damages based upon allegations that Muscati effected unauthorized structured product transactions in the customer’s account. Financial Industry Regulatory Authority […]

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Morgan Stanley Fires Broker For Unauthorized Trading

August 02, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael Frank Paesano, of New York, New York, a stockbroker registered with Morgan Stanley, was terminated from employment on December 21, 2016, based upon allegations that he effected faulty investment strategies and unauthorized trades in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Paesano has been identified in fifteen customer initiated investment […]

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Morgan Stanley Fires Broker For Outside Business Activities

July 29, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Gregg Brian Weiss, of York, Pennsylvania, a stockbroker registered with Morgan Stanley Smith Barney, was terminated from employment on August 1, 2016, based upon the firm’s allegations that he partook in unauthorized outside business activities, made omissions regarding tax documents, and sought to be repaid for expenses that he did not incur in connection with […]

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Morgan Stanley Sued For Negligence

July 29, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Thomas Alan Meier, of Miami, Florida, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related complaint on May 2, 2016, which settled for $497,245.90 in damages based upon allegations that between 2013 and 2016, he made misrepresentations concerning the terms and conditions of the customer’s liquidity within the […]

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Arbitration Claim Aginst Wells Fargo Clearing Services

July 29, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Gregory Thormann Pease, of New York, New York, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related civil action on November 14, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that he failed to provide the customer with an […]

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Morgan Stanley Unauthorized Trading Claim

July 29, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Blaze Tatananni, of Pittsburgh, Pennsylvania, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related civil action on May 4, 2017, in which the customer requested $10,000,000.00 in damages based upon allegations of corporate debt trades having been effected in the customer’s account without the customer’s consent between 2013 […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

July 29, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Joel David Davidman, of Beverly Hills, California, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in twenty-seven customer accounts despite lacking authorization from the customers and the firm. […]

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Morgan Stanley Smith Barney’s Bad Marks

July 29, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Bradley Andrew Marks, of New York, New York, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim on May 2, 2017, in which the customer sought $68,294.16 in damages based upon allegations that Marks failed to execute upon the customer’s instructions regarding an in-house money manager […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Loans

July 29, 2017  |   Posted by :   |   Customer Loans, Unauthorized Trading   |   0 Comments

Jaime Hazael Aguilar, of San Diego, California, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member based upon consenting to findings that he entered into unauthorized loan arrangements with the firm’s customers. Letter of Acceptance, Waiver and Consent, No. 2016050297702 (July […]

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Morgan Stanley Smith Barney Sued For Failure To Supervise

July 29, 2017  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration   |   0 Comments

Sumitro Pal, of Bethesda, Maryland, a stockbroker formerly registered with Morgan Stanley Smith Barney, is the subject of a customer initiated investment related written complaint on May 1, 2017, in which the customer requested $115,156.00 in damages based upon allegations that the firm failed to supervise Pal’s faulty corporate debt transactions placed in the customer’s […]

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Wells Fargo Advisors Sued For Suitability

July 29, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Regan Allen Rohl, of Fargo, North Dakota, a stockbroker currently registered with Wells Fargo Advisors Financial Network, LLC, is the subject of a customer initiated investment related arbitration claim on June 19, 2017, in which the customer requested $1,500,000.00 in damages based upon allegations that Rohl, from April of 2011 to December of 2016, made […]

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Morgan Stanley Named For Failure To Supervise

July 29, 2017  |   Posted by :   |   Failure To Supervise   |   0 Comments

Gregg Walter Stupinski, of Stuart, Florida, a registered representative currently registered with Morgan Stanley Smith Barney, is the subject of a customer initiated investment related arbitration claim on May 1, 2017, based upon allegations against Stupinski of his failure to supervise a firm customer’s equity portfolio. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that […]

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Morgan Stanley Broker Suspended For Selling Away

July 28, 2017  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Richard S. Botkin, of Roseville, California, a stockbroker formerly registered with Morgan Stanley, has been fined $15,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected private securities transactions without notification to his firm. Letter of Acceptance, Waiver […]

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Customer Sues Morgan Stanley For Suitability

July 28, 2017  |   Posted by :   |   Bond Fraud   |   0 Comments

Mortimer Joel Altshuler Jr., of Boca Raton, Florida, a stockbroker formerly registered with Morgan Stanley Smith Barney, is the subject of a customer initiated investment related arbitration claim on April 3, 2017, in which the customer requested $18,000.00 in damages based upon allegations that Altshuler effected corporate debt transactions that were not appropriate for the […]

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Morgan Stanley Smith Barney Stockbroker Sanctioned

July 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Rafael Barela Jacinto, of New York, New York, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been fined $10,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity pursuant to an Office of Hearing Officers Decision & Order of Offer of Settlement containing findings […]

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Morgan Stanley Sued for Unsuitable Recommendations

July 03, 2017  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Keith Allen Bryan, of Sarasota, Florida, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on December 13, 2016, where the customer requested $30,968.61 in damages based upon allegations that Bryan, between 2012 and 2016, effected unsuitable stock and municipal bond transactions in the customer’s account […]

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Morgan Stanley Stockbroker Charged With Fraud

June 19, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kim Dee Isaacson, of Salt Lake City, Utah, a stockbroker formerly registered with Morgan Stanley, was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Isaacson made omissions and misrepresentations to a firm customer concerning transactions effected in the customer’s account, and traded in a customer’s account without authorization; conduct that FINRA […]

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Morgan Stanley Broker Barred In Investigation

Anthony Joseph Verzi, of Melbourne, Florida, a stockbroker formerly registered with 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 failed to cooperate in a FINRA investigation into allegations of his unsuitable investment trading activities. Letter of Acceptance, Waiver […]

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Morgan Stanley Broker Barred For Unauthorized Trading

June 08, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

John Batista Bocchino, of New York, New York, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a FINRA Office of Hearing Officers Order Accepting Offer of Settlement containing findings that Bocchino effected unauthorized trades in customer accounts and caused an assistant of his to […]

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Morgan Stanley Smith Barney Complaint Alleging Unsuitability

June 08, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

James Edward Bogart, of McLean, Virginia, has been named in a customer initiated investment related written complaint on November 30, 2016, in which the customer requested $25,711.11 in damages based upon allegations that Bogart, between 2015 and 2016, effected transactions in the customer’s managed account that failed to be suitable for the customer. Bogart’s registration […]

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Morgan Stanley Smith Barney Sued For Unsuitable Investments

June 08, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

David James Vigil, of Ponte Vedra Beach, Florida, has been named in a customer initiated investment related arbitration claim on April 24, 2017, in which the customer requested $90,000.00 in damages based upon allegations that Vigil effected unsuitable transactions in the customer’s managed wrap account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Vigil […]

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J.P. Morgan Securities Sued By Customer

June 08, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

David Eliott Doll, of Los Angeles, California, a stockbroker formerly registered with J.P. Morgan Securities, LLC, has been named in a customer initiated investment related written complaint, which settled on February 8, 2017, for $6,239.65 in damages based upon allegations that he effected equity transactions in the customer’s individual retirement account that were not appropriate […]

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Morgan Stanley Broker Terminated For Unauthorized Trading

May 30, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Peter Joseph Doyle, of Bethesda, Maryland, a stockbroker registered with Morgan Stanley Smith Barney, was terminated from employment on June 24, 2016, based upon allegations that he traded in customers’ investment accounts in a manner that violated the firm’s procedures and policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Doyle has been named […]

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Aegis Capital Corp Suspended For Unauthorized Trading

May 30, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David Bruce Drucker, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. […]

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Wells Fargo Stockbroker Sanctioned By SEC

May 30, 2017  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Sylvester King Jr., of Fort Lauderdale, Florida, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was subject of a Securities and Exchange Commission Administrative Order, in which King was ordered to cease and desist from causing future violations of Securities Exchange Act of 1934 Sections 15(a) and 17(a)(1), Rule 17a-4(b)(4), as well as Investment […]

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Customer Brings Arbitration Against Morgan Stanley Smith Barney

May 30, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Travis Kent Dillard, of Tucson, Arizona, a stockbroker formerly registered with Morgan Stanley, has been named in two customer initiated investment related arbitration claims on October 28, 2017, in which the customers collectively requested $1,000,000.00 in damages based upon allegations that Dillard, between 2011 and 2015, effected over-the-counter equity transactions in their accounts despite the […]

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Morgan Stanley Sued In Arbitration For Unsuitability

May 25, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Michael Barry Goldberg, of Short Hills, New Jersey, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related written complaint on April 4, 2017, in which the customer requested $33,443.87 in damages based upon allegations that Goldberg effected unit investment trust and mutual fund transactions in the customer’s account […]

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Garden State Securities Broker Suspended for Unauthorized Trading

May 25, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Terry Lee Brodt Jr., of Red Bank, New Jersey, a stockbroker currently registered with Garden State Securities, Inc., has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts on a discretionary basis, and failed […]

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National Securities Stockbroker Suspended For Unauthorized Trading

May 25, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Ralph Brian Marra, of Eatontown, New Jersey, a stockbroker currently registered with National Securities Corporation, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. […]

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Morgan Stanley Wealth Management Stockbroker Fired

May 25, 2017  |   Posted by :   |   Churning, Stockbroker Fraud News   |   0 Comments

Socrates E. Cruz, of New York, New York, a stockbroker registered with Morgan Stanley, was terminated from employment on March 10, 2017, based upon allegations that he failed to apprise his firm about multiple outside investment holdings. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on January 17, 2015, a customer initiated investment related […]

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UBS Financial Services Stockbroker Suspended By Regulator

David Alan Lavine, of Houston, Texas, a stockbroker formerly registered with UBS Financial Services Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to confirm with FINRA staff that he was compliant with a settlement agreement or customer initiated investment related […]

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Customer Sues Merrill Lynch Alleging Unauthorized Trading

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel P. Reilly, of New York, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related written complaint, which settled on January 25, 2017, for $16,727.00 in damages based upon allegations that he effected unauthorized mutual fund trades in the customer’s account. […]

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Securities Arbitration Filed Against Morgan Stanley Unauthorized Trading

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Edouard Yves Crepy, of Miami, Florida, a stockbroker currently registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim, which settled on July 27, 2016, for $93,385.00 in damages based upon allegations that Crepy placed unauthorized transactions in the customer’s account pertaining to Chesapeake Energy bonds, Direxion exchange […]

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Customer Brings Claim Against Morgan Stanley

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Charles Alan Correal, of Upper Saint Clair, Pennsylvania, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim on April 20, 2017, in which the customer requested $22,600.00 in damages based upon allegations that Correal effected unsuitable stock transactions in the customer’s account. Financial Industry […]

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Customer Brings Arbiutration Claim Against Morgan Stanley for Misrepresentation

May 18, 2017  |   Posted by :   |   FINRA Securities Arbitration   |   0 Comments

Brandon Christopher Oliver, of Hunt Valley, Maryland, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim, which settled on June 8, 2016, for $25,000.00 in damages based upon allegations that Oliver, inter alia, made misrepresentations to the customer concerning the surrender of the customer’s […]

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Oppenheimer Stockbroker Barred In Regulatory Investigation

May 18, 2017  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Greg D. Templeton, of New York, New York, a stockbroker formerly registered with Oppenheimer & Co., Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations of his sales practice violations and “mishandling” of […]

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Financial Advisor Sentenced to Prison for $21 million Ponzi Scheme

May 18, 2017  |   Posted by :   |   Ponzi Scheme, Stockbroker Fraud News   |   0 Comments

Patrick Churchville, president of a Rhode Island investment advisor, was sentenced to seven years in federal prison in March of this year relating to a Ponzi scheme he operated since 2010. Churchville was president of ClearPath Wealth Management, LLC. In 2015 the SEC filed a civil complaint alleging that Churchville and ClearPath diverted investor deposits […]

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Merrill Lynch Named In Customer Complaint Alleging Unsuitability

May 05, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

David Steven Rasdolsky, of Reston, Virginia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Inc., has been named in a customer initiated investment related written complaint on July 29, 2015, based upon allegations that he made unsuitable investment recommendations to the customer concerning mutual funds, and omitted facts concerning the fees pertaining […]

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Alexander Capital Stockbroker Charged With Obstructing

May 05, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

Peyton Nelson Jackson, of New York, New York, a stockbroker formerly registered with Alexander Capital, L.P., and Legend Securities, Inc., has been charged by Financial Industry Regulatory Authority in a Complaint which alleges that Jackson failed to cooperate in a FINRA investigation into allegations that he effected fraudulent transactions in customer accounts. Department of Enforcement […]

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Morgan Stanley Smith Barney Stockbrokers Fired

Wendy B. Feldman, and Peter Joseph Doyle, of Washington, District of Columbia, stockbrokers registered with Morgan Stanley Smith Barney, have been terminated from employment on June 24, 2016, based upon allegations that they violated their firm’s procedures and additionally failed to comply with regulatory rules pertaining to exercising discretion in customer accounts. Financial Industry Regulatory […]

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Wells Fargo Advisors Stockbroker Fired

April 11, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Christopher D. Stoddard, of Norwell, Massachusetts, a stockbroker registered with Wells Fargo Advisors, LLC, was terminated from employment on November 23, 2016, based upon allegations of his conduct which coincided with Stoddard’s September 16, 2016 termination from his former employer, Morgan Stanley. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Stoddard has been named […]

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Morgan Stanley Sued For Misrepresentation

April 10, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Francis James Aurino, of Beverly Hills, California, a stockbroker currently registered with Morgan Stanley, has been named or his conduct is at issue in a customer initiated investment related FINRA Arbitration claim on February 15, 2017, in which the customer requested $100,000.00 in damages based upon allegations that Aurino made investment related misrepresentations to the […]

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Morgan Stanley Stockbroker Barred By Regulator

April 10, 2017  |   Posted by :   |   Inverse Leveraged ETF Funds, Stockbroker Fraud News   |   0 Comments

Hilary Joseph Zimmerman, of Ridgeland, Mississippi, has been fined and permanently barred in all capacities which require securities registration by the Securities Division of the Mississippi Secretary of State based upon consenting to findings that altered the account documentation of customers, and failed to act in customers’ best interests in reference to customers’ exchange traded […]

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Customer Sues Morgan Stanley For Unauthorized Trading

March 31, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Richard Jay Bernstein, of Beverly Hills, California, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on February 1, 2017, in which the customer requested $81,738.82 in damages based upon allegations that Bernstein placed unsuitable and unauthorized equity trades in the customer’s investment account. Financial Industry Regulatory […]

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Morgan Stanley Sued by Customer For Misrepresentation

Kevin C. Yang, of Pasadena, California, a stockbroker currently registered with Morgan Stanley Inc., has been named in a customer initiated investment related arbitration claim, which settled on December 18, 2016, for $57,500.00 in damages based upon allegations that Yang made misrepresentations to the customer and effected unsuitable structured transactions in the customer’s account. Financial […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

March 21, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Richard Alan Kern, of Beavercreek, Ohio, a stockbroker formerly registered with Morgan Stanley, has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 20160502058-01 (Mar. […]

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Morgan Stanley Named In FINRA Arbitration

William Mark Heiden, of Newport Beach, California, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on January 24, 2017, in which the customer requested $950,718.24 in damages based upon allegations that Heiden, from 2012 to 2016, effected equity transactions in the customer’s account which were […]

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Morgan Stanley Stockbroker Fired For Unauthorized Trading

March 16, 2017  |   Posted by :   |   Stockbroker Fraud News, Structured Notes   |   0 Comments

Jeffrey Neil Cadan, of New York, New York, a stockbroker registered with Morgan Stanley, was terminated from employment on December 21, 2016, based upon allegations of Cadan’s misconduct pertaining to his implemented investment strategy involving government debt products, as well as his exercise of discretion in customer account(s). Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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Morgan Stanley Sued In Arbitration For Unsuitability

March 16, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Steven Rocco Colli, of Morristown, New Jersey, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related written complaint on February 16, 2017, based upon allegations that Colli, from 2014 to 2017, utilized the customer’s margin without authorization to effect options and equity transactions. Financial Industry Regulatory Authority (FINRA) […]

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Key Investment Services Sued by Customer For Unsuitability

Jeanette S. Stofleth, of Seattle, Washington, a stockbroker formerly registered with Key Investment Services, has been named in a customer initiated investment related written complaint on January 19, 2017, in which the customer requested $5,000.00 in damages based upon allegations that the Stofleth made poor investment recommendations regarding the customer’s $450,000.00 investment in single premium […]

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Wells Fargo Advisors Sued by Customer For Unsuitability

Alan Neal Rose, of Melville, New York, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim on January 16, 2017, in which the customer requested $100,000.00 in damages based upon allegations that from 2013 to 2016, Rose over-concentrated the customers’ portfolio in investments […]

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Morgan Stanley Sued For Unsuitability

Laurence Michael Braunstein, of New York, New York, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on August 5, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Braunstein, from 2014 to 2015, effected unsuitable closed end fund, unit investment trust, […]

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Morgan Stanley Stockbroker Steals $7 Million From Customers

Barry F. Connell, of Chester, New Jersey, an investment adviser representative and stockbroker formerly registered with Morgan Stanley, has been charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that he misappropriated firm customers’ funds. Securities and Exchange Commission v. Barry F. Connell, No. 1:17-cv-00831 (S.D.N.Y. filed Feb. 3, 2017). According to […]

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Morgan Stanley Stockbroker Suspended For Selling Away

March 08, 2017  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Patrick Dennis Combs, of Houston, Texas, a stockbroker formerly registered with Morgan Stanley, has been fined $7,500.00 and suspended for seven months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he participated in private securities transactions, and concealed these activities from his firm. Letter […]

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Morgan Stanley Sued For Misrepresentation

March 07, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Efthimios Emmanouilidis, of Wellesley, Massachusetts, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on August 11, 2016, in which the customer requested $500,000.00 in damages based upon allegations that Emmanouilidis made misrepresentations to the customer concerning managed accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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UBS Financial Services Sued for Unauthorized Trading

David Howard Fagenson, of Palm Beach, Florida, a stockbroker formerly registered with UBS Financial Services Inc., has been named in a customer initiated investment related written complaint on September 26, 2016, based upon allegations that from 2013 to 2016, Fagenson effected unauthorized trades in the customer’s account and failed to abide by the customer’s instructions […]

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Morgan Stanley Sued by Customer for Fraud

February 27, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Bruce Benjamin Greenwald, of Pepper Pike, Ohio, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on January 3, 2017, in which the customer requested $800,000.00 in damages based upon allegations that Greenwald failed to abide by the customer’s investment based instructions, and made misrepresentations to […]

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Morgan Stanley Stockbroker Barred In Investigation

February 27, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Karen McKinley, of Manchester, New Hampshire, a stockbroker formerly registered with Morgan Stanley, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she obstructed a FINRA investigation into allegations of potential non-compliance regarding trading in customer accounts that was referenced by […]

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JP Morgan Securities Sued by Customer In FINRA Arbitration

February 14, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Rick Douglas Konecny, of Chicago, Illinois, a stockbroker currently registered with J.P. Morgan Securities LLC, has been named in a customer initiated investment related written complaint on June 23, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Konecny effected unauthorized and unsuitable transactions in the customer’s account, and overconcentrated the […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

February 14, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Clarence Mark Tingle, of Lewes, Delaware, a stockbroker currently registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected discretionary trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2014042951501 […]

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One Broker Lands Wells Fargo Advisors in 43 FINRA Securities Arbitrations

Charles Bernard Lynch, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in Forty Three customer initiated investment related disputes between October 6, 2014, and August 9, 2016, which collectively settled for $6,932,566.03 in damages based upon allegations against Lynch which included unsuitability, misrepresentation, negligence, and account mismanagement. Financial Industry Regulatory Authority […]

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New Jersey Based Morgan Stanley Broker Caught Stealing $5 Million

February 06, 2017  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Barry F. Connell, formerly of the Ridgewood office of Morgan Stanley, Inc., formerly known as Morgan Stanley Smith Barney, Inc., was charged by the United States Securities & Exchange Commission for the Connell, for the violation of Sections 206(1) and 206(2) of the Advisers Act, in that while acting as an investment adviser, by use […]

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Cetera Advisors Named In Securities Fraud Arbitration Claim

February 01, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

James Christopher Hayne, a stockbroker formerly registered with Cetera Advisors LLC, has been named in a customer initiated investment related arbitration claim on December 13, 2016, in which the customer requested $500,000.00 in damages based upon allegations that Hayne Hayne breached his fiduciary duties, effected stock trades on an excessive basis, failed to diversify the […]

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Oppenheimer & Company Sued for Churning

January 26, 2017  |   Posted by :   |   Churning, Stockbroker Fraud   |   0 Comments

Zak William Shapiro, of Los Angeles, California, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related written complaint on June 22, 2016, in which the customer requested $32,196.55 in damages based upon allegations that between April of 2015 to April of 2016, Shapiro effected trades in […]

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Morgan Stanley Smith Barney Named FINRA Securities Arbitration

January 26, 2017  |   Posted by :   |   FINRA Securities Arbitration, Unit Investment Trusts   |   0 Comments

Edward Louis Barger, of Miami Florida, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim on April 4, 2016, which was based upon allegations that between August of 2011 and December of 2015, Barger effected unsuitable closed-end funds and equity transactions in the customer’s […]

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Morgan Stanley Named In FINRA Securities Arbitration

January 26, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Charles Alan Correal, of Pittsburgh, Pennsylvania, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim on February 29, 2016, in which the customer requested $180,000.00 in damages based upon allegations that between 2008 to 2016, Correal effected unsuitable transactions in the customer’s account pertaining […]

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Oppenheimer & Company Accused of Fraud

January 25, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Gregg D. Templeton, of New York, New York, a stockbroker formerly registered with Oppenheimer & Co. Inc., was named in a customer initiated investment related arbitration claim on December 20, 2016, which settled for $562,500.00 in damages based upon allegations that from July 1, 2010 to March 31, 2015, Templeton misappropriated the customer’s funds, effected […]

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Chapin Davis Stockbroker Terminated For Misconduct

January 19, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Charles Louis Laubach, of Baltimore, Maryland, a stockbroker formerly registered with Chapin David Investments, has been terminated from employment on March 18, 2016, based upon allegations that he did not follow his firm’s supervisory protocols and mismarked investment transaction tickets. This is not the first time that Laubach has been terminated by a brokerage firm […]

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Morgan Stanley Smith Barney Named In Customer Churning Claim

January 19, 2017  |   Posted by :   |   Churning, Exchange Traded Funds, Stockbroker Fraud News   |   0 Comments

Christopher J. Cowans, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim on December 11, 2015, in which the customer has requested $600,000.00 in damages based upon allegations that between March of 2011 and December of 2013, Cowans effected excessive transactions in the customer’s […]

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Morgan Stanley Stockbroker Terminated For Alleged Outside Business Activities

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Michael A. Pellegrino Jr., of Red Bank, New Jersey, a stockbroker formerly registered with Morgan Stanley, was terminated from employment on December 2, 2016, based upon allegations that Pellegrino conducted communications with an individual which the firm prohibited business to be conducted with. The firm further alleged that Pellegrino provided a party with advice on […]

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Morgan Stanley Named In Customer Securities Arbitration

January 13, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Victor Eugene Lambert III, of Melville, New York, a stockbroker formerly registered with Morgan Stanley, was named in a written customer complaint, which settled on April 7, 2016 for $85,000.00 in damages based upon allegations that Lambert effected unsuitable equity transactions in the customer’s investment account. FINRA Public Disclosure reveals that Lambert has been identified […]

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Ameriprise Financial Services Stockbroker Investigated For Misrepresentation

January 13, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Kim Dee Isaacson, of Midvale, Utah, a stockbroker currently registered with Ameriprise Financial Services, Inc., has been named in a Financial Industry Regulatory Authority (FINRA) investigation on April 8, 2016, which focuses on allegations that Isaacson made misrepresentations to a customer concerning the customer’s investment performance and account details. FINRA Public Disclosure reveals that Isaacson […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James Carolan Speno, of New York, New York, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that Spendo effected transactions in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, […]

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Morgan Stanley Fined For Violation Of Customer Protection Rule

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Morgan Stanley & Co. LLC, a broker-dealer headquartered in New York, New York, has been censured and fined $2,750,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to create and preserve adequate procedures and systems geared to ensure that customers’ margin securities would be properly controlled and held […]

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Morgan Stanley Fails To Supervise Investment Objective Changes

January 12, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

The tail wagging the dog.  Broker sell you unsuitable investments, no problem.  We will just secretly change your investment objectives. Morgan Stanley Smith Barney, a broker-dealer headquartered in Purchase, New York, has been censured and fined $1,500,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to set forth […]

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Morgan Stanley Stockbroker Terminated For Selling Away

January 05, 2017  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Jaime Hazael Aguilar, of San Diego, California, a stockbroker previously registered with Morgan Stanley Smith Barney, LLC, has been fired by his firm on May 10, 2016, based upon allegations that Aguilar was involved with a customer in pursuing a financial transaction outside the auspices of Morgan Stanley. FINRA Public Disclosure reveals that Aguilar has […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

Robert Steven Beck, of Jenkintown, Pennsylvania, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected discretionary trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2014042560001 (Dec. […]

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Morgan Stanley Stockbroker Barred In Investigation

December 17, 2016  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Brian Carey Sak, of Deerfield, Illinois, a stockbroker formerly registered with Morgan Stanley, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations that Sak engaged in selling away or the unauthorized solicitation of a firm customer […]

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Morgan Stanley Named in Customer Securities Arbitration Alleging Unsuitability

December 07, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Ari M. Baum, of New York, New York, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been subject to a customer initiated investment related arbitration claim on April 5, 2016, in which the customer requested $1,285,000.00 in damages based upon allegations that unsuitable corporate debt investments were effected by Baum in the customer’s […]

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Morgan Stanley Sued By Customers For Unsuitabile Recommendations

November 02, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Rick A. Davidson, of New York, New York, a stockbroker formerly associated with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on July 22, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Davidson effected unsuitable investments in the customer’s investment account from January of 2013 […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

November 02, 2016  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Tom Puentes, of Langley, Washington, a stockbroker formerly registered with Morgan Stanley, was fined $15,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected discretionary trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2014042676301 (Oct. 13, 2016). […]

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Vanderbilt Securities Stockbroker Named In Customer Arbitration Claim

November 02, 2016  |   Posted by :   |   Churning, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Mark Kaplan, of Woodbury, New York, a stockbroker with Vanderbilt Securities, LLC, was named in a customer initiated investment related arbitration claim on February 15, 2016, in which the customer has requested $1,130,000.00 in damages per allegations against Kaplan of effecting unsuitable investment transactions for the customer. FINRA Public Disclosure reveals that Kaplan has been […]

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Morgan Stanley Sued For Barred Stockbroker Fiduciary Duty Claims

October 15, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Justin Amaral, of Boston, Massachusetts, a stockbroker with Morgan Stanley, became subject to a pending customer dispute on February 4, 2016, in which the customer requested $750,000.00 in damages in connection with allegations against Amaral which included Amaral breaching his fiduciary duty to the customer pertaining to investments. FINRA BrokerCheck reveals that Amaral has been […]

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Morgan Stanley Stockbroker Barred In Investigation

October 15, 2016  |   Posted by :   |   Customer Loans   |   0 Comments

Jeffrey Hunter Smith, of Williamsburg, Virginia, a stockbroker with Morgan Stanley, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed an investigation into allegations of his unauthorized borrowing of customer funds. Letter of Acceptance, Waiver and Consent, No. 2015044363701 (Sept. 30, […]

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Customers Seek to Kill Gill In Suitability Claim

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Kirk J. Gill, of Tucson, Arizona, a stockbroker with Morgan Stanley, is subject to several pending customer disputes. Particularly, on August 3, 2016, a customer lodged a pending dispute against Gill, in which the customer requested $500,000.00 in damages after alleging that Gill made recommendations to the customer that were unsuitable. FINRA’s BrokerCheck reveals that […]

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Customer Arbitration Claim Filed Against Shrewsbury Morgan Stanley Stockbroker

September 28, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Ralph B. Marra, of Shrewsbury, New Jersey, a stockbroker formerly with Morgan Stanley, became subject to a pending customer dispute from August 23, 2016, in which the customer alleged that Marra made unsuitable recommendations of investments to the customer. In May 2015, Marra left Morgan Stanley and became registered with National Securities operating from a […]

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Morgan Stanley Stockbrokers Charged With Misrepresentations

September 16, 2016  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John Batista Bocchino and Rafael Barela Jacinto, of New York, New York, stockbrokers with Morgan Stanley Smith Barney, were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that the individuals engaged in material misrepresentations and omissions concerning bond investments, unauthorized activity in connection with such, and falsified firm records. […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

September 09, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel John Meyers, of New Haven, Connecticut, a stockbroker with Morgan Stanley, was fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized  trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015048045501 (Aug. 19, 2016). […]

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Marlton New Jersey Stockbroker Barred In Misappropriation Investigation

Leonard V. Fox, Jr., of Marlton, New Jersey, a stockbroker with FSC Securities Corporation, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his misappropriation of customer funds. Letter of Acceptance, Waiver and Consent, No. […]

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Constellation Wealth Advisors LLC Stockbroker Barred For Selling Away

June 30, 2016  |   Posted by :   |   Selling Away, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Brandon D. Gioffre, of New York, New York, a stockbroker with Constellation Wealth Advisors LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized private securities transactions. Letter of Acceptance, Waiver and Consent, No. 2015046448701 (June 22, 2016). […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

Armando Fernandez, of Miami Beach, Florida, a stockbroker with Morgan Stanley & Co. Incorporated, was fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized trading and mismarked order tickets. Letter of Acceptance, Waiver and Consent, No. 2013038283001 (May […]

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Morgan Stanley Stockbroker Barred For Fraud

May 05, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Richard F. DiVenuto, of New York, New York, a stockbroker with Morgan Stanley Smith Barney LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in securities fraud, outside business activities, and private securities transactions. Letter of Acceptance, Waiver and […]

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Mount Laurel Morgan Stanley Stockbroker Barred

Lance E. Slater, of Mt. Laurel, New Jersey, a stockbroker with Morgan Stanley, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to findings that he failed to cooperate in a FINRA investigation into allegations of unauthorized borrowing of funds from a firm customer. Letter of Acceptance, Waiver and Consent, […]

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Morgan Stanley Broker Only Suspended For Obstruction

Most stockbrokers get barred for failure to cooperate, but not this one. Jeffrey E. Rodgers, of Bend, Oregon, a stockbroker with Morgan Stanley, was suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Order Accepting Offer of Settlement containing findings that Rodgers engaged in unauthorized […]

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Morgan Stanley Stockbroker Charged With Selling Away

March 17, 2016  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Kenneth J. Mathieson, of New York, New York, a stockbroker with Morgan Stanley, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Mathieson engaged in private securities transactions, outside business activities, and false compliance certifications. Department of Enforcement v. Mathieson, No. 2014040876001 (Mar. 3, 2016). According to the Complaint, […]

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Net Capital Violations Lands Felony Criminal Charges

February 19, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Morgan Stanley paid $9.5 million for hiding 14.5 million e-mails sought by the SEC in connection with an investigation back in 2006. Citigroup pays $720 million based upon the $71 bilion in toxic securities linked to mortgages it sold to the public. Charles Schwab paid $200 mllion in connection with the YieldPlus fiasco where it […]

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Wells Fargo Advisors Stockbroker Charged with Obstruction

Katherine Lapidoth of Aventura, Florida, a stockbroker with Wells Fargo Advisors, has been suspended for two years from association with any Financial Industry Regulatory Authority (FINRA) member and fined $15,000 in connection with an Office of Hearing Officers Order Accepting Offer of Settlement that contained findings that Lapidoth provided false information to regulators and failed to […]

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Morgan Stanley Stockbroker Barred In Stealing Investigation

Samuel Wylie Sloane of Fort Worth, Texas, a registered representative with Morgan Stanley, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities after consenting to findings that he had failed to comply with a FINRA investigation into allegations of Sloane’s conversion of customer funds. Letter of […]

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Wells Fargo Advisors Broker Obstructs Investigation

Katherine Lapidoth of Aventura, Florida, a registered representative with Wells Fargo Advisors, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Lapidoth had provided false information to regulators and failed to comply with a FINRA investigation into her potential misconduct. Department of Enforcement v. Lapidoth, No. 2013039650502 […]

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Morgan Stanley Stockbroker Suspended for Private Securities Transactions

October 05, 2015  |   Posted by :   |   Failure To Supervise, Selling Away, Stockbroker Fraud News   |   0 Comments

Sylvester King Jr., a Stockbroker with Morgan Stanley Smith Barney LLC, was suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for eighteen months and fined $35,000 after consenting to findings that he circumvented his firm’s policies and procedures, made an unauthorized loan to a customer, and engaged […]

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Morgan Stanley Stockbroker Barred for Obstructing Investigation into Converting Funds

October 05, 2015  |   Posted by :   |   Embezzlement, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Troy Mackey, a Stockbrokerwith Morgan Stanley, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to findings that Mackey failed to cooperate in FINRA’s investigation into allegations that Mackey converted funds from two minor relatives. Letter of Acceptance, Waiver, and Consent, No. 4466980. (July 16, 2015). Mackey is barred […]

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Morgan Stanley Broker Barred for Loans from Customers

Jeffrey E. Rodgers, a registered representative with Morgan Stanley, was charged by the Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Rodgers accepted an unauthorized customer loan, engaged in outside business activities, made false statements on an annual compliance questionnaire, and failed to provide documentation and information to FINRA pursuant to Rule 8210. […]

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Morgan Stanley Broker Barred for Dodging Investigation into Unauthorized Trading

September 28, 2015  |   Posted by :   |   Churning, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Robert C. Marrone, a registered representative with Morgan Stanley, was permanently barred form association with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to FINRA findings that Marrone failed to cooperate in an investigation into allegations that Marrone engaged in unauthorized trading and discretion without authorization in client accounts. Letter of […]

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Wells Fargo Advisors Broker Barred For Lying

Aaron R. Parthemer, a former financial advisor with Wells Fargo Advisors, LLC, was permanently barred from association with any FINRA member in any capacity after consenting to FINRA findings that he engaged in unapproved outside business activities, unlawful loans to customers, private securities transactions, false written responses to FINRA pursuant to 8210 requests, and false […]

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Raymond James Stockbroker Barred For Obstructing Theft Investigation

Stealing or the conversion of customer funds is never a good idea, and in fact it is illegal. However, in response to an investigation by the Financial Industry Regulatory Authority that he did just that, Ft. Meyers based, Raymond James & Associates stockbroker Mark A. Bullivant, with the benefit of counsel, of course, decided that […]

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Morgan Stanley Fined for Supervisory Failures

Morgan Stanley Smith Barney, a FINRA member since 2009, is a publicly held company that engages in general securities business via 24,000 registered representatives working out of roughly 850 branch locations. The Firm was censured and fined $65,000 by FINRA Department of Enforcement in connection with allegations that the Firm had failed to establish and […]

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Michigan Financial Advisor Barred For Failing to Appear in FINRA Investigation

August 03, 2015  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kenneth Hornyak of Traverse City, MI, a former financial advisor and general securities representative with Stifel Nicolaus & Company, was barred from association with any FINRA-registered firm in all capacities after failing to appear for an on-the-record interview in connection with FINRA’s investigation into potential discretionary trading, unauthorized trading and unsuitable short-term trading in Unit […]

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SEC Bars Raymond James Broker Thomas K. Keough for Sale of Unregistered Securities

March 03, 2015  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Thomas Keough of North Reading, Massachusetts was barred by the United States Securities & Exchange commission for the sale of unregistered securities whil Keough was a registered representative with Raymond James Financial Services, Inc. and Morgan Stanley. The SEC found that beginning in approximately 2002 and continuing through 2009, Keough raised approximately $110 million from investors […]

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Morgan Stanley – Eastman Kodak Retiree Fraud

April 02, 2014  |   Posted by :   |   Retirement & Elder Fraud, Stockbroker Fraud News   |   0 Comments

A group of investors filed a class-action lawsuit on January 15, 2008 seeking nearly $500 million dollars in damages from Morgan Stanley, alleging their broker, Michael James Kazacos, gave them fraudulent investment advice and made false promises to Eastman Kodak retirees that never materialized. The plaintiffs are all former employees of Eastman Kodak Co in […]

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SEC Charges Morgan Stanley and Former Adviser with Misleading Clients

April 02, 2014  |   Posted by :   |   Stockbroker Fraud News, Wrongful Management Referral   |   0 Comments

The Securities and Exchange Commission today charged Morgan Stanley and one of the firm’s former investment adviser representatives with securities law violations for misleading clients about the money managers being recommended to them and failing to disclose conflicts of interest. According to the SEC’s orders in the case, Morgan Stanley breached its fiduciary duty to […]

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Morgan Stanley Fined for Misrepresenting Fixed-Income Securities

May 22, 2012  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Two subsidiaries of Morgan Stanley were fined by the Financial Industry Regulatory Authority (FINRA) earlier this month for negligently making material misrepresentations to investors regarding the call price and yield of certain fixed-income securities, as well as negligently failing to disclose that these securities were interest-only. The misrepresentations were the result of incomplete information that […]

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UBS Financial Services Fined for Shoddy Supervision of ETF Sales

May 04, 2012  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

UBS Financial Services Inc. has agreed to pay a $1.5 million fine after the Financial Industry Regulatory Authority (FINRA) charged the firm with failure to supervise the sale of complex financial products known as non-traditional exchange-traded funds, as well as for making unsuitable recommendations of these funds. In addition to the fine, UBS Financial Services […]

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Citigroup Global Fined $2 Million for Failure to Supervise

May 03, 2012  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Citigroup Global Markets Inc. has been fined $2 million by the Financial Industry Regulatory Authority (FINRA) for failure to supervise and for making unsuitable recommendations in connection with the sale of complex financial products known as non-traditional exchange-traded funds. The firm submitted a Letter of Acceptance, Waiver and Consent (AWC) to settle a FINRA disciplinary […]

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On Fraud Spree, Broker Lies to Firms, Customers and Regulators

February 29, 2012  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Over five years, former broker James Scott McKee defrauded the customers of the brokerage firms where he worked out of nearly $1 million, using lies and omissions to induce them to invest in various real estate ventures in which he had a direct or indirect financial interest, according to a complaint filed by the Financial […]

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Morgan Stanley Fined $600K for Failure to Supervise the Sale of Structured Products

January 11, 2012  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Morgan Stanley & Co. LLC has been censured and fined $600,000 by the Financial Industry Regulatory Authority, or FINRA, for failure to supervise its stockbrokers to ensure compliance with its own guidelines regarding structured products. As a result of this failure of supervision, the firm’s stockbrokers recommended a total of 14 unsuitable structured product investments […]

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Broker Charles Winitch Guilty of Fraud Managing Accounts of Children Medical Malpractice Victims

December 14, 2010  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Just when you thought that you heard it all. The New York Stock Exchange disciplined former Morgan Stanley stockbroker Charles Winitch of Scarsdale, New York, for unauthorized trading, churning or excessive activity, and breach of fiduciary duty with respect to the accounts of his customers. Mr. Winitch’s fraudulent conduct, however, relates to the accounts of […]

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Investment Analyst Fraud Continues At Morgan Stanley

August 11, 2010  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Following the 2003 Global Settlement with FINRA and the Securities & Exchange Commission, were Morgan Stanley paid $125 million in fines, disgorgement, and “procurement of Independent Research,” it seems Morgan Stanley has been caught again publishing inaccurate and misleading investment research report, which fail to disclose Morgan Stanley?s financial interests, and conflicts of interest to […]

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Finra Bars Ex-Morgan Stanley Rep for Bilking 97 Year Old’s Charity

September 16, 2009  |   Posted by :   |   Embezzlement, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

John Edward Mullins and wife allegedly drained their client’s trust while she was in a nursing home. A former Morgan Stanley broker was barred today by the Financial Industry Regulatory Authority Inc. for allegedly misappropriating $11,156.47 from the charitable foundation of a 97-year-old nursing home resident who was his client for more than 20 years. […]

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FINRA Develops Public Arbitrator Pilot Program.

In a superficial effort to avoid Congress enacting the Arbitration Fairness Act, in response to the perceived corruption of the arbitration process by FINRA, a “self”-regulatory organization consisting of the same brokerage firms that are the defendants or respondents in these cases, announced that it will launch a two-year pilot program later this fall. The pilot program […]

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Morgan Stanley Fined For Bond Fraud

Last August, Wall Street firm Morgan Stanley and one of its senior traders agreed to pay $6.1 million in fines and restitution to settle allegations that the investment bank overcharged brokerage customers on 2,800 purchases of $59 million of bonds. Dana de Windt, a Crucial Inside Source Regulators investigating the case had a crucial inside […]

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Morgan Stanley Will Pay $8M to Settle Fraud Case

Morgan Stanley agreed Wednesday to pay nearly $8 million to settle federal fraud charges stemming from its reported failure to get retail stock investors the best prices possible on more than a million over-the-counter transactions. The Settlement Over roughly three years, the Securities and Exchange Commission said Wednesday in announcing the settlement, “Morgan Stanley’s automated […]

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