Eugene Nathan Gordon (also known as Gene Gordon) of Palo Alto California a stockbroker formerly employed by Morgan Stanley has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Gordon executed trades without the consent of a customer of the securities broker dealer. Letter of Acceptance Waiver and Consent No. 2018057579701 (Nov. 27, 2019).
According to the AWC, during the time that Gordon was associated with Morgan Stanley, he was prohibited from effecting trades in customer accounts absent the customer’s express permission. Notwithstanding, unauthorized trades were effected in the customer’s account. Also, thirty-two distributions which totaled $317,704.88 were executed by the stockbroker without the customer’s permission. The AWC stated that Gordon falsely conveyed to Morgan Stanley that he had received approval from the customer for the transactions. FINRA found Gordon’s conduct violative of Rule 2010.
FINRA Public Disclosure additionally confirms that Gordon is referenced in a customer initiated investment related complaint on October 27, 2017 in which the customer sought $1,938,188.00 in damages founded on allegations of trading and distributions being executed by Gordon without the customer’s permission when the stockbroker was employed by Morgan Stanley.
Gordon was discharged by Morgan Stanley Smith Barney on February 2, 2018 based upon accusations of his unauthorized transactions.
