October 2018- Boca Raton, FL
According to publicly available records Michael B. Ralby (CRD#1301072), a stockbroker who formerly was registered with Morgan Stanley Smith Barney, disclose a regulatory event, 2 pending customer disputes and six prior customer disputes.
The Financial Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are require to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In March of 2018 Ralby was permanently barred from the securities industry after he refused to appear for a FINRA on-the-record testimony in connection with its investigation into whether Ralby had accepted loans from a customer in violation of FINRA rules.
In 9/2014, a customer of Above the Line Consulting, LLC alleged civil conspiracy and willful statutory violation of Florida statutes . The case was filed in Miami Dade County, Florida in the Circuit Court of the 11th Judicial Circuit, and resulted in judgment to the customer of $2.2 million.
In July of 2018 a Morgan Stanley Smith Barney customer alleged unsuitability with respect to purchase of structured products. The case was settled for $13,604.
In January of 2017 a Morgan Stanley Smith Barney customer alleged unauthorized trading and the case settled for $35,450.
In April of 2009, a Stanford Group Company customer alleged being misled regarding the risk level of his purchase of the Stanford International Bank CD. He submitted to complaints to FINRA – one alleging compensatory Damages of $587.698 and the other for $140,721. This case is still pending.
Michael Ralby worked for Oppenheimer & Co. from March 2009 until July 2013 when he went to work with Morgan Stanley Smith Barney from July 2013 until January 2018.
If you have questions about an investment account handled by Michael Ralby, contact us for a no charge consultation to learn about your legal options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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