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May 22, 2019
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Blog, Securities Fraud
Morgan Stanley Lawsuit – Clients awarded $519,000 for Alleged Unsuitable Investments According to a FINRA Award posted this week, a New Mexico couple claiming they were put into unsuitable investments by a Morgan Stanley financial advisor were awarded $519,000. The investors, Stephen and Brenda Balok, in a
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March 20, 2018
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Blog, Current Investigations, Securities Fraud
FINRA Bars Former Morgan Stanley Broker Thomas Meier for unauthorized trades According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred Miami advisor Thomas Meier for allegedly engaging in unauthorized trades in his clients’ accounts. From July 2012 through March 2016, Meier,
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September 26, 2017
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Blog, Current Investigations
Morgan Stanley to pay $13 Million in Fines and Restitution According to The Financial Industry Regulatory Authority (FINRA) on Monday, Morgan Stanley must pay $13 million in fines and restitution to clients for inadequately supervising certain short-term trades. FINRA said that between January 2012 and June 2015
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August 25, 2017
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Blog, Current Investigations
Morgan Stanley Censured & Fined According to FINRA, Morgan Stanley has agreed to pay $500,000 to the Financial Industry Regulatory Authority and restore $103,219 to investors for improperly executing trades of preferred securities. The letter of acceptance, waiver and consent posted on Finra’s enforcement
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April 12, 2017
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Blog
Morgan Stanley Settles Sales Contest Allegations Morgan Stanley will pay $1 million to Massachusetts to settle charges brought by Secretary of State William Galvin that the mega bank had rewarded employees in Massachusetts and Rhode Island through a contest that encouraged wealthy clients to take out loans secured by
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December 20, 2016
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Investigation of Morgan Stanley Leads to Charges The Securities and Exchange Commission announced today that Morgan Stanley has agreed to pay $7.5 million to settle charges it used trades involving customer cash to lower the firm’s borrowing costs in violation of the SEC’s Customer Protection Rule. The Customer
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July 30, 2015
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Blog, Securities Fraud
Investigation Update Morgan Stanley has been ordered to pay $2.4 million to investors due allegations of unauthorized and excessive trading on client accounts. The investors included a group of physicians and their family members. All were clients of former Morgan Stanley broker Steven Mark Wyatt. Wyatt allegedly sold
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May 7, 2014
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Blog, Securities Fraud
According to FINRA.org, the Financial Industry Regulatory Authority (FINRA) fined Morgan Stanley’s brokerage firm $5 million for compliance failures related to the sale of initial public offerings (IPO). FINRA found that Morgan Stanley advisor’s did not distinguish between a clients” indication of
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August 1, 2013
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Blog, Securities Fraud
Morgan Stanley consented to pay the New Jersey Bureau of Securities $100,000 to resolve an investigation involving the improper sale of non-traditional Exchange Traded Funds (ETF) According to the Consent Order, between 2007 and 2009 Morgan Stanley not only failed to provided adequate training to their brokers on
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July 20, 2011
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Blog, Securities Fraud
On July 12, 2011, the Securities and Exchange Commission issued an Order Instituting Administrative and Cease-and-Desist Proceedings pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 (Exchange Act), Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order (Order) against
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