Mark Frederic Seruya (also known as Mark Seruya), of Red Bank, New Jersey, a stockbroker formerly registered with Morgan Stanley, has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member firm in any capacity because Seruya refused to provide documents and information requested by FINRA during an investigation. Letter of Acceptance, Waiver, and Consent No. 2024083143001 (March 27, 2025).
According to the AWC, Seruya’s registration with Morgan Stanley was terminated following the firm’s filing of a Uniform Termination Notice (Form U5), which stated that Seruya and the firm mutually agreed to part ways after an internal review. That review concerned Seruya’s involvement in outside business activities involving clients and his use of unauthorized messaging platforms to conduct business communications.
FINRA initiated an investigation based on the information disclosed in the Form U5. As part of this investigation, FINRA Rule 8210 required Seruya to provide information and documents related to the matter. On November 4, 2024, and again on November 25, 2024, FINRA sent requests to Seruya for documentation and information relevant to the investigation. On December 12, 2024, Seruya’s attorney informed FINRA that Seruya had received the requests but would not comply with them. This refusal to cooperate constituted a violation of FINRA Rules 8210 and 2010.
FINRA Public Disclosure also shows that a customer initiated investment related complaint involving Seruya’s conduct was settled for $60,000.00 in damages based upon allegations that Seruya breached a contract, was negligent, failed to supervise certain representatives, and breached his fiduciary duties in connection with the sale of options.
Seruya was the subject of a customer initiated investment related NASD securities arbitration claim in which the customer was awarded $1,375,750.00 in compensatory damages because Seruya and Bear Stearns Co. Inc. were held liable for sales practice violations. NASD Arbitration No. 96-04997. The Statement of Claim alleged that Seruya was negligent, failed to supervise certain representatives, breached his fiduciary duties, and breached a contract in connection with the sale of options when Seruya was associated with Bear Stearns Co. Inc.
Seruya was associated with Morgan Stanley in Red Bank, New Jersey from June 1, 2009 to August 23, 2024.
