FINRA filed a complaint against former Morgan Stanley advisor Kirk J. Crossen, alleging that he borrowed $400,000 from an 84-year-old customer experiencing early-stage dementia and concealed the loans from his firm.
A longtime Morgan Stanley financial advisor agreed to a $5,000 fine and a two-month suspension after FINRA found that he executed multiple transfers from his former spouse’s retirement account without proper authorization, as reported by AdvisorHub.
The Financial Industry Regulatory Authority (FINRA) suspended former Morgan Stanley advisor C.J. Kline for two years and imposed a $5,000 fine for allegedly executing more than $180,000 in improper fund transfers between his personal and brokerage accounts.
Morgan Stanley recently terminated a 25-year industry veteran in Miami, underscoring the heightened scrutiny surrounding U-5 filings and the challenges that accompany them.
Morgan Stanley Wealth Management announced a significant change to its 2026 compensation plan, cutting advisor deferral rates by half while keeping total pay and grid structures largely unchanged.
Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.
Morgan Stanley has once again hit a roadblock in its effort to overturn a federal court decision that applies the Employee Retirement Income Security Act of 1974 (ERISA) protections to its deferred compensation plan.
A FINRA arbitration panel has ordered Morgan Stanley to pay $843,000 in compensatory damages to a senior client residing in Florida for failing to protect her from financial fraud. As reported by ThinkAdvisor, the panel found the firm liable for negligence in a case that highlighted the growing risk of elder financial exploitation.
Morgan Stanley, along with two advisors, has been found jointly responsible for $333,000 in damages and legal fees by an arbitration panel of the Financial Industry Regulatory Authority (FINRA).
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay a former client $11.7 million over an allegedly unauthorized call options strategy.
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The Financial Industry Regulatory Authority (FINRA) has approved significant amendments to its Codes of Arbitration Procedure designed to rebalance public arbitrator selection, increase transparency, and formalize several long-standing practices in the arbitration forum.
Several industry associations are urging the U.S. Senate to pass the Financial Exploitation Prevention Act, legislation that would allow mutual fund companies and their transfer agents to delay redemptions when they reasonably suspect elder financial abuse.
A UBS report signals that credit stress likely will intensify next year as borrowers confront inflation, elevated interest costs, and softening consumer conditions.
