Constantinos George Maniatis of Dallas Texas a stockbroker formerly registered with Morgan Stanley has been fined $5,000.00 and suspended for 30 days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he effected trades in customer accounts without authorization. Letter of Acceptance Waiver and Consent No. 2019062788601 (Apr. 26, 2021).
According to the AWC, from May 4, 2018 to February 27, 2019, Maniatis made trades in seven customer accounts without having authorization. There were 105 occasions in which Maniatis executed trades without getting pre-trade confirmation from customers. At least 13 of those trades related to municipal securities.
FINRA stated that Morgan Stanley did not allow for Maniatis to make discretionary trades in the customer’s account during the May 4, 2018 to February 27, 2019 timeframe. The securities broker dealer did not accept those investors’ accounts for purposes of discretionary trading during that time. Maniatis violated FINRA Rule 2010, National Association of Securities Dealers (NASD) Rule 2510(b) and Municipal Securities Rulemaking Board (MSRB) Rule G-17.
FINRA Public Disclosure confirms that Maniatis is referenced in a customer initiated investment related written complaint in which the customer sought unspecified damages supported by allegations that misrepresentations had been made to the Morgan Stanley customer concerning an investment strategy.
Maniatis was discharged by Morgan Stanley Wealth Management on May 2, 2019 based in part on accusations that Maniatis effected discretionary trades in an account that was not authorized for purposes of discretionary trading.
