Larry Dean Lavoice of New York New York a stockbroker formerly employed by Morgan Stanley Smith Barney has been discharged by the firm on December 8, 2017 founded on allegations that Lavoice effected transactions in customer’s non-discretionary investment accounts without consenting with customers and obtaining their permission.
Lavoice has previously been censured, fined $25,000.00 and suspended for two months from associating with any New York Stock Exchange (NYSE) member in any capacity based upon Lavoice’s consent to findings that Lavoice engaged in violative market-timing practices, causing mutual fund trades to be executed that would have been rejected otherwise. Case No. 10-NYSE-2 (Feb. 9, 2010).
Moreover, FINRA Public Disclosure confirms that on December 23, 2008, a customer initiated investment related complaint regarding Lavoice’s activities was resolved for $100,000.00 in damages supported by accusations of poor performance on auction rate securities placed in the customer’s account while Lavoice was associated with UBS Financial Services Inc.
Lavoice’s registration with Revere Securities LLC commenced on December 8, 2017.
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