Morgan Stanley Name

Paul William Lascelle of Flemington, New Jersey, a stockbroker registered with Morgan Stanley, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he engaged in the unauthorized trading of a customer’s investment account. Letter of Acceptance, Waiver and Consent, No. 2017053501901 (Nov. 29, 2017).

According to the AWC, between January of 2012 and August of 2016, during the time that Lascelle was associated with Morgan Stanley, he placed trades in a customer’s investment account even though he lacked any authorization. Particularly, Lascelle failed to obtain the customer’s written approval, and traded in an account that the firm did not accept for purposes of discretionary trading to be exercised by stockbrokers. Consequently, FINRA found that Lascelle’s conduct was violative of FINRA Rule 2010 and NASD Rule 2510(b).

FINRA Public Disclosure reveals that on March 7, 2001, a customer filed an investment related written complaint regarding Lascelle’s activities, where the customer alleged that Lascelle, while associated with Wells Fargo Advisors, LLC, failed to follow the customer’s instructions of liquidating her stock position.

Subsequently, on March 13, 2017, a customer filed an investment related written complaint involving Lascelle’s conduct, where the customer alleged that between 2013 and 2016, while associated with Morgan Stanley Smith Barney, he placed unit investment trust, mutual fund and stock transactions in the customer’s account on an excessive basis.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer

Guiliano Law Group

Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com