17
Dec

UPDATE! STEWART MALLOY of Morgan Stanley BARRED by FINRA

Losses with William Horak of Purshe Kaplan in Tallahassee, FL

Stewart Malloy, formerly with Morgan Stanley, Barred by FINRA

 

– Riverhead, NY

 

Have you lost money with financial advisor Stewart Malloy of Riverhead, New York?  We are continuing to look into allegations made by FINRA, the Financial Industry Regulatory Authority, against Stewart Clinton Malloy. FINRA brought a complaint in August 2018, seeking to bar Malloy from the securities industry after he failed to respond to a FINRA investigation.  FINRA was investigating Malloy after customers made complaints against him, alleging that he engaged in discretionary trading without written authority to do so, and that he purchased unsuitable energy stocks in customer accounts.  In December 2018, FINRA barred him after he still refused to respond to the allegations.

 

Stewart Malloy was a financial advisor and registered representative of Morgan Stanley from 1996 to October 2015.  He worked at a branch office Riverhead, New York.  Malloy was also terminated by Morgan Stanley and has also been the subject of eight customer complaints.

 

Brokerage firms like Morgan Stanley have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Ann Arbor, Michigan; and Seattle, Washington.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout New York.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Morgan Stanley.

 

Click to view:  Malloy, Stewart BrokerCheck 8.26.18 (1)

Click to view:  Malloy, Stewart FINRA Complaint (1)

Click to view:  Malloy, Stewart FINRA Order

 

If you lost money with Stewart Malloy or Morgan Stanley, please CONTACT US at 720-599-3505 for a free evaluation of your case.

 

See related Article:  

INVESTOR ALERT! Investigation of STEWART MALLOY – Riverhead, NY

 

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs.