FINRA
Finra Dings Ex-Morgan Stanley Broker in Los Angeles over Expense Lapse
Advisor and local restaurateur Kerry Moy accepted a two-month suspension and $5,000 fine for allegedly including the wrong names of attendees on business meals when seeking reimbursement.
Customer Privacy Issues Cost Securities America $125,000
Finra censures and fines independent broker-dealer for encouraging recruited advisors to give nonpublic data on their customers to outside vendor that prepared account opening transfer documents.
Morgan Stanley Faces $5 Million Claim from NBA Star Chandler Parsons
The filing appeared on the record for a California broker and managing director who is part of Morgan Stanley’s Sports and Entertainment Group.
Finra Bars Ex-Wells Broker Who Raised $3.5-Mln For Software Company
Scott W. Reed of Scottsdale, Arizona, allegedly made nearly $200,000 for soliciting and facilitating at least $3.5 million in unapproved investments in a software company.
Runs in the Family: Finra Suspends Broker Who Helped His Barred Father See Clients
Former Cambridge rep James A. Schumaker was accused of helping his father, barred from the industry in 2014, come into the office and meet with clients.
Finra Bars Morgan Stanley Veteran Fired over Inherited Accounts
Broker who was discharged after 23 years for failing to share account credits with retired advisor gets lifetime bar from regulator.
Finra Sidelines Two Brokers who Took Client Info to New Firms
The regulator fined and suspended a Lincoln Financial Advisors broker and a former International Assets Advisory broker who started his own registered investment advisory firm for alleged violations of client privacy rules.
Finra Bars Ex-Wells Broker Accused of Improperly Seeking Virus Relief Loan
The regulator barred a bank-based broker who declined to cooperate with its investigation of allegations she had applied for the Small Business Administration’s support without a formal business.
Family Affair: Panel Orders J.P. Morgan, Ex-Brokers to Pay $19 Million to Grandmother
A Finra arbitration panel in Boca Raton, Florida found two former brokers and J.P. Morgan liable in a case brought by the brokers’ 94-year-old grandmother for unauthorized trading and elder abuse.
Morgan Stanley Claws Back Million-Dollar Note Balance from FL Broker
Broker had left for Laidlaw Wealth Management after three years with the wirehouse.
Finra Suspends Former NJ Broker Who Borrowed from Clients to Pay Debts
Ex-broker Manish H. Shah accepted a 20-month suspension from the brokerage industry and a $15,000 fine for borrowing money from customers to buy another broker’s practice but using the money for personal expenses.
