Tag Archives: Morgan Stanley

Michael Ralby – Former Morgan Stanley Smith Barney Broker- Barred From Securities Industry- Boca Raton – FL

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Thomas Meier – Former Morgan Stanley Broker- Discloses 14 Customer Disputes- Miami, FL

September 2018 – Miami, FL

According to publicly available records Thomas Alan Meier  (CRD#1146044) ,  a  former stockbroker who was last registered with Morgan Stanley disclose a Regulatory Event and 14 prior customer disputes.

The Financial Industry 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 required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Thomas Meier Barred From Securities Industry

In March of 2018, without admitting or denying the findings, Meier consented to the entry findings that he effected approximately 1,290 unauthorized transactions, including both purchases and sales of equity securities, in eight accounts belonging to six customers.    Meier did not have discussions with the customers about the trades prior to the transactions and did not obtain the customers’ authorization prior to executing any of the transactions.

Meier received approximately $265,000 in commissions for those transactions.   One of the customers realized a loss of approximately $120,000 and another realized a net loss of approximately $520,000.      Meier has been permanently barred from the securities industry as a result of these findings.

Numerous Settlements with Customers, Including: 

In December 2016 , two  Morgan Stanley customers alleged that Meier over concentrated their accounts in energy investments.   One case was settled for $80,000 and the other was settled for $65,000.

In January of 2017, a customer with Morgan Stanley alleged breach of fiduciary duty and negligence with regard to the handling of their accounts.    The case was settled for $450,000.

In December  2016, a Morgan Stanley customer alleged damages of $1,000,000 after Meier made unsuitable recommendations and traded the account to generate commissions.    The case was settled for $250,000.

In August 2016, a Morgan Stanley customer alleged breach of fiduciary duty and negligence with regard to the handling of their account.   The case was settled for $300,000.

In September of 2016, a Morgan Stanley customer alleged that Financial Advisor placed unauthorized trades and excessively traded her account between 2012-2016.   Her case settled for $366,577.

In March of 2016, another Morgan Stanley customer alleged misrepresentation related to their investments and liquidity from 2013-2016.   Their case settled for $497,245.

Other cases filed from March 2016 until October of 2016 by Morgan Stanley customers alleging, inter alia, “unauthorized trading, risky investments, breach of fiduciary duty, negligence, unsuitability, excessive trading and misrepresentation” were settled for the amounts of:  $49,999, $37,610, $60,000, $90,000, $40,580, $50,000 and $215,000.

Thomas Meier worked for Morgan Stanley from 6/2009-4/2016.

If you have questions about an investment account handled by Thomas Meier, 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Matthew Singer- Former Morgan Stanley Broker-Customer Suits Over Option Investments- Aventura, FL

August 2018 – Aventura, FL

The FINRA records of  Matthew Singer,  a  broker previously employed by Morgan Stanley Smith Barney disclose 3 prior customer disputes and a regulatory event.

The Financial Industry 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 required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In March of 2018,  without admitting or denying the findings, Singer consented to sanctions and entry of findings that he refused to appear for FINRA on-the-record testimony in connection with its investigation into whether Singer made unsuitable options recommendations to customers.   In March of 2018, Singer was permanently barred from the securities industry.

In December of 2016,  a client of Morgan Stanley Smith Barney,  filed FINRA Case 16-1063 and alleged unauthorized trading and misrepresentation with respect option investments from May 2015 to January 2016.    The case settled for $60,000.

In October of 2015, a client of Morgan Stanley Smith Barney, filed FINRA case 15-2767 alleging  that  Singer recommended investments were recommended that were not suitable for their level of risk.   The case was settled for $365,000.

If you have losses in an account  handled by Matthew Singer , contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Michael Christians-Former Morgan Stanley Broker-Discloses Regulatory Investigation-Plano, TX

June 2018- Plano, TX

The FINRA records of Michael S. Christians  , a stock broker who is not currently registered and who was last employed by Morgan Stanley , disclose a currently pending regulatory event, 2 prior customer disputes, a pending investigation and a termination from employment.

The Financial Industry 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 required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In February 2018 FINRA initiated a regulatory investigation after a customer of Morgan Stanley alleged that Christians falsely signed her name to firm documents.

Christians  was employed by Morgan Stanley  since 6/2009 until 1/2018 when he was discharged after the firm learned of the false signing of a client on firm documents.

If you have questions about  an account handled by Michael S. Christians , call for a no charge consultation.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Charles Lawrence-Former Morgan Stanley Broker-Subject of Regulatory Investigation- Palm Harbor, FL

May 2018-Palm Harbor, Florida

The FINRA records of  Charles J. Lawrence,  a  stockbroker who currently is employed by  R. F. Lafferty & Co.  disclose a pending regulatory investigation and a recent employment separation after allegations.

The Financial Industry 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 required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In March 2016, Lawrence was discharged from Morgan Stanley who made the following allegations on his FINRA record: “Allegations involving adherence to industry rules and/or firm policy regarding use of trading discretion.”

In January 2018 Lawrence was sent a Wells Notice indicating that FINRA has made a preliminary determination to recommend that disciplinary action be brought against him alleging potential violations of NASD Rules 2510 (Discretionary Accounts)  and 2310 (Recommendations to Customers) and FINRA Rule 2010 (Standards of Commercial Honor and Principles).

Lawrence  was registered with Morgan Stanley from 6/2009-4/2016. He has been registered with R.F. Lafferty since 4/2016.

What is Discretionary Authority ?

 In this context, it means that the broker makes trades in the customer’s account without first consulting the customer. It means that the broker can decide how much of a security to buy or sell, and at what price, without customer input. Generally discretionary trading in an investor account is only allowed if the investor has authorized the broker to do so in writing and the brokerage firm has approved the account for discretionary trading.

If a broker makes trades in an account without having discretionary authority and without first consulting with the customer, that is generally considered to be an unauthorized trade and the customer may be entitled to damages for any losses.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870