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Tagged with "Morgan Stanley"

Morgan Stanley Ordered to Pay $11.7 Million Over Unauthorized Covered Call Strategy

Posted on December 13th, 2022 at 3:16 PM
Morgan Stanley Ordered to Pay $11.7 Million Over Unauthorized Covered Call Strategy

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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Morgan Stanley Seeks to Send Brokers’ Deferred Comp Lawsuit to Arbitration

Posted on July 18th, 2022 at 3:33 PM

Morgan Stanley has asked a federal court to stay a proposed class action lawsuit related to its deferred compensation plan and compel 12 of its former brokers who filed the suit to arbitrate their claims.

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FINRA Arbitrators Order Morgan Stanley and Former Advisor to Pay Damages to Mexican Farmer

Posted on June 15th, 2022 at 1:10 PM
FINRA Arbitrators Order Morgan Stanley and Former Advisor to Pay Damages to Mexican Farmer

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley and a former advisor with the firm to each pay $160,000 in damages to a Mexican farmer for allegedly making improper recommendations.

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FINRA Suspends Former Morgan Stanley Advisor Who Solicited Venture Capital Investment

Posted on May 23rd, 2022 at 3:09 PM
FINRA Suspends Former Morgan Stanley Advisor Who Solicited Venture Capital Investment

The Financial Industry Regulatory Authority (FINRA) has suspended a former Morgan Stanley advisor for allegedly misleading investors regarding a private placement sold by the firm.

 
 
 
 

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Morgan Stanley Seeks to Stop Two Departing Advisors from Transferring Inherited Accounts

Posted on May 9th, 2022 at 2:59 PM
Morgan Stanley Seeks to Stop Two Departing Advisors from Transferring Inherited Accounts

Morgan Stanley is seeking a temporary restraining order (TRO) in an effort to block two of its former New-Jersey based advisors from soliciting clients whom they inherited via the firm’s Former Advisor Program (FAP).

 
 

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SEC Accuses Former Morgan Stanley Advisor of Conducting a Ponzi Scheme

Posted on April 27th, 2022 at 1:05 PM
SEC Accuses Former Morgan Stanley Advisor of Conducting a Ponzi Scheme

The Securities and Exchange Commission (SEC) has accused a former Morgan Stanley advisor of using client funds to cover personal expenses including a Tesla vehicle, credit card bills and cash transfers.

 
 

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FINRA Suspends Former Morgan Stanley Advisor Who Circumvented Sales Limits

Posted on April 19th, 2022 at 1:36 PM
FINRA Suspends Former Morgan Stanley Advisor Who Circumvented Sales Limits

The Financial Industry Regulatory Authority (FINRA) has imposed a $15,000 fine and 20-month suspension on a former Morgan Stanley advisor who allegedly falsified client information in order to circumvent sales restrictions on volatile fixed income investments.

 
 
 

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Three Morgan Stanley Advisors Clear Records of Back-Office Mistake

Posted on April 11th, 2022 at 1:08 PM
Three Morgan Stanley Advisors Clear Records of Back-Office Mistake

A Financial Industry Regulatory Authority (FINRA) arbitration panel has expunged the records of three advisors who are part of a large Morgan Stanley team. The disclosure had related to their purported liability for a customer complaint pertaining to a back-office mistake over a misvalued stock certificate.

 
 

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Former Citibank Advisor Agrees To Non-Solicit Ban After Departing Morgan Stanley

Posted on April 5th, 2022 at 2:06 PM
Former Citibank Advisor Agrees To Non-Solicit Ban After Departing Morgan Stanley

A former New York-based Citigroup advisor has agreed to a client solicitation ban after recently departing Citigroup to join Morgan Stanley.

 
 
 

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Morgan Stanley Hit With Another Deferred Compensation Claim

Posted on March 29th, 2022 at 12:18 PM
Morgan Stanley Hit With Another Deferred Compensation Claim

Morgan Stanley’s legal woes over its withholding of deferred compensation from brokers who leave for another firm are multiplying. Attorney James Eccleston stressed that a threat still persists in the federal proposed class action that Morgan Stanley will persuade the court to compel the plaintiffs to arbitrate.

 
 
 
 
 

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