June 22, 2019
This Week’s Top Stories: Morgan Stanley Dismisses L.A. Broker, Credit Suisse Doubles Down, and More
- Morgan Stanley Discharges Man-About-Town Los Angeles Advisor
Kerry Moy, a 34-year wirehouse advisor and high-profile Los Angeles restaurateur, has become an independent advisor following his dismissal from Morgan Stanley over allegedly false reporting involving outside businesses.
- Merrill Team Generating $5.2 Million Goes Indie in Indianapolis
Advisors who oversaw about $800 million for 225 families joined Sanctuary Wealth, founded last year a former Merrill regional manager.
- Fired UBS Broker Celebrates Expungement of Termination Notice
Finra arbitrators clear discharge notice from Virginia broker’s regulatory record after he and UBS settle firm’s claim for $811,000 balance on his promissory notes.
- Credit Suisse Doubles Down on Broker Litigation
Swiss bank appeals lower court’s refusal to vacate New York advisor’s big comp award and files two more vacature petitions in Georgia and New York.
- Jones Low-Balled Customer Damage Claims, Citi Overcharged for UITs—Finra
Edward Jones agreed to pay $40,000 for allegedly inaccurate U4 complaint reporting while Ciitigroup reaches $377,000 settlement on UIT sales abuses.