Adele Millicent Polakoff (also known as Adele M. Naidoff) of Paramus New Jersey a stockbroker currently employed by Morgan Stanley is under investigation by Connecticut Department of Banking concerning allegations that Polakoff possibly committed a violation of Connecticut Uniform Securities Act Section 36b-23 by making misleading and false statements in an examination into her activities.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Polakoff has been identified in three customer initiated investment related disputes containing accusations of Polakoff’s violative conduct during the time that she was associated with Morgan Stanley and UBS Financial Services. Particularly, a customer initiated investment related arbitration claim concerning Polakoff’s activities was resolved for $9,999.00 in damages founded on allegations that a fiduciary duty owed to the customer had been breached; over-the-counter equities purchased for the customer’s account were not suitable; and the customer’s account was over-concentrated in those securities. National Association of Securities Dealers (NASD) Arbitration No. 04-06148 (Nov. 17, 2005).
On October 8, 2009, another customer filed an investment related complaint regarding Polakoff’s conduct in which the customer sought $16,250.00 in damages based upon accusations of misrepresentations being made to the customer concerning the risk of General Motors preferred stock; Polakoff apparently advised the customer that the investment was safe. Then, on February 6, 2012, a customer filed an investment related complaint concerning Polakoff’s activities where the customer requested $12,830.00 in damages supported by allegations that the customer was placed into a variable annuity that was not appropriate for the customer.
Polakoff has been registered with Morgan Stanley since June 1, 2009.
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