Anthony Ferrone Barred for Allegations of Unsuitable trading
According to reports, The Financial Industry Regulatory Authority Inc. has barred former Morgan Stanley broker Anthony Ferrone from the securities industry due to allegations he engaged in unsuitable trading of unit investment trusts in clients’ accounts.
FINRA stated in a letter of acceptance, waiver and consent, that Anthony Ferrone appeared for on-the-record testimony but reportedly refused to provide complete testimony and departed before its completion, violating FINRA rules.
According to FINRA BrokerCheck, Anthony Ferrone joined Morgan Stanley in 2011 and worked there until July 2016, when he was terminated. In September 2016, he became registered with Ameriprise, which reportedly discharged him this past March. Ferrone reportedly began his securities career in 1983 at Philips, Appel & Walden. He worked at several firms over the years, including Prudential Securities, Lehman Brothers, Smith Barney, Dean Witter and UBS, according to his BrokerCheck report.
According to FINRA, Anthony Ferrone is no longer employed in the securities business.
For FINRA’s full findings see FINRA Case # 2016051829701.
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