Former Morgan Stanley Financial Advisor Peter Doyle Barred by FINRA Regarding Trading Discretion
Posted on Wednesday, September 20th, 2017 at 9:08 am
Erez Law is currently investigating former Morgan Stanley financial advisor Peter Doyle (CRD# 2370593) regarding the use of trading discretion in a customer’s account. Doyle was registered with Morgan Stanley in Washington, DC from 2009 to 2016, when he was terminated regarding, “Allegations involving adherence to industry rules and/or firm policy including with regard to use of trading discretion.” Previously, Doyle was registered with H. Beck, Inc. in Bethesda, Maryland from Sept. 2016 to Feb. 2017.
In July 2017, Doyle was barred from FINRA after he consented to the sanction and to the entry of findings that he refused to appear for FINRA requested on-the-record testimony in connection with its investigation into the conduct that led to his termination from Morgan Stanley, according to the Acceptance, Waiver & Consent (AWC).
Doyle has been the subject of three customer complaints between 2015 and 2017, according to his CRD report:
February 2017. “Client’s son verbally alleged unsuitability with respect to account investments – June 2008 to June 2016.” The case was settled for $600,000.
September 2016. “Client alleges unsuitability, inter alia, with respect to investments – July 2008 – June 2016.” The case was settled for $85,000.
July 2015. “Claimants allege, inter alia, that between 2011 to 2014 the FA engaged in unauthorized trades, made unsuitable purchases, and failed to disclose fees in regards to the client’s accounts.” The customer sought $5 million in damages and the case was settled for
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Morgan Stanley may be liable for investment or other losses suffered by Doyle’s customers.
Erez Law represents investors in the United States for claims against former Morgan Stanley financial advisor Peter Doyle regarding the use of trading discretion in a customer’s account. If you were a client of Morgan Stanley or another firm, and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.