Brian Michael Weinstein of Lawrenceville New Jersey a stockbroker formerly registered with Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted funds and furnished false documentation to Morgan Stanley. Letter of Acceptance Waiver and Consent No. 20140438633-01 (Nov. 29, 2016).
FINRA Public Disclosure confirms that Weinstein has been identified in five customer initiated investment related disputes that pertain to accusations of his misconduct while employed with Wachovia Securities LLC, Morgan Stanley, RBC Capital Markets, LLC and Prudential Securities Inc. Particularly, on March 20, 2007, a customer filed an investment related written complaint involving Weinstein’s conduct where the customer requested $24,000.00 in damages founded on accusations that the customer’s assets were not allocated in a manner which was suitable for the customer in consideration of the customer’s age and tolerance for risk.
Then, on June 12, 2008, a customer filed an investment related written complaint regarding Weinstein’s activities in which the customer sought more than $5,000.00 in damages supported by allegations that the customers’ investment allocations were modified without the customers having been notified about the consequences of a reallocation including tax liabilities and a modified fee structure relating to the customers’ wrap accounts.
Subsequently, a customer initiated investment related arbitration claim pertaining to Weinstein’s activities was resolved for $56,500.00 in damages based upon accusations that Weinstein effected exchange traded funds trades in the customer’s account on an excessive basis, effected trades without procuring the customer’s consent, and made unsuitable investment recommendations to the customer concerning exchange traded funds, options and equipment leasing products. FINRA Arbitration No. 14-01047 (Feb. 18, 2015).
Weinstein’s registration with Morgan Stanley Smith Barney was terminated on November 20, 2014. He was later associated with Sterne Agee Financial Services but terminated for cause on November 29, 2016.
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