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Recovery Loss Options For Clients of Morgan Stanley Broker Kerry Moy

Posted on Thursday, June 24th, 2021 at 10:25 pm    

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Did you lose money investing with Morgan Stanley broker Kerry Moy (CRD# 1295255)? Moy has been registered with Morgan Stanley in Los Angeles, California from 2012 to 2019, when he was terminated regarding, “Allegations regarding the representative’s submission of inaccurate information for business expenses, his submission of inaccurate and incomplete information about outside restaurant-related business activities, and his use of firm resources for those outside activities.”

In March 2021, FINRA suspended Moy for two months and sanctioned him to pay a $5,000 civil and administrative penalty and fine after he “consented to the sanctions and to the entry of findings that he submitted expense reports seeking reimbursement of business meals that he knew included false information about the attendees at those meals. The findings stated that Moy delegated the preparation of expense reports to his assistant, but Moy often neglected to inform his assistant of the names of the clients or prospective clients who had attended business meals with him. When this occurred, Moy’s assistant would insert randomly selected names of her choosing on Moy’s expense reports. Despite knowing that this was his assistant’s practice, Moy failed to correct those reports to list the actual attendees of the business meals and instead submitted the deliberately inaccurate expense reports for reimbursement.”

Moy has been the subject of five customer complaints between 1999 and 2018, two of which were denied, according to his CRD report. The most recent complaint is regarding: 

December 2018. “Claimants alleged, inter alia, misrepresentation with respect to investments – 2015 to 2018.” The customer is seeking $14 million in damages and the case is currently pending. The complaint was regarding a non-broker-dealer affiliate product. 

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 Moy’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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.