According to FINRA, James C. Speno has been suspended from the securities industry. Between January 1, 2014 and February 13, 2015, Speno allegedly exercised discretionary power in 11 customer accounts belonging to 4 customer households by effecting approximately 1,000 transactions, without obtaining prior written authorization from the customers. ln certain circumstances, the firm allowed the use of discretion with prior approval by the firm and the client; however, Speno allegedly failed to obtain such approval.
For FINRA’s full findings see FINRA case # 2015045057901.
According to his FINRA Broker Check, Speno was registered with Morgan Stanley in New York, NY from 08/09/2013 – 04/08/2015. In March 2015 he was discharged from Morgan Stanley for concerns regarding handling of certain accounts including exercise of discretion and trading volume. He was previously registered with Oppenheimer & Co., New York, NY from 07/16/2008 – 08/12/2013.
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