Richard Wilson Hartnett, of West Palm Beach, Florida, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim, which settled on March 30, 2017, for $87,500.00 in damages based upon allegations that he effected unsuitable and excessive stock transactions in the customer’s account.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Hartnett has been identified in seven additional customer initiated investment related disputes containing allegations of his misconduct while employed with Morgan Stanley and CIBC World Markets Corp. In particular, on April 10, 2014, a customer initiated investment related arbitration claim involving Hartnett’s conduct was settled for $150,000.00 in damages based upon allegations against him of unauthorized trading and unsuitability concerning options, equities and variable annuity investments effected in the customer’s account.
Hartnett was also subject of another arbitration claim on February 3, 2016, wherein the customers’ sought damages totaling $1,037,960.00 based upon allegations against Hartnett of effecting unsuitable options transactions in the customers’ investment portfolios. Moreover, on March 30, 2016, a customer initiated investment related arbitration claim regarding Hartnett’s activities was resolved for $210,000.00 in damages founded upon allegations that Hartnett made misrepresentations to the customer and effected equity transactions that were not appropriate.
Guiliano Law Group
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