Daniel Jay Sherman, of New York, New York, a stockbroker registered with Morgan Stanley Smith Barney LLC, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $17,500.00 in damages based upon allegations that Sherman made unsuitable recommendations of certain common stocks and preferred stocks when Sherman was associated with Morgan Stanley Smith Barney LLC. FINRA Arbitration No. 21-00934 (Apr. 9, 2021). Immediately thereafter without the participation of the investor, or her lawyers, Morgan Stanley sought to expunge the claims from Sherman’s CRD record. The arbitration panel denied Sherman’s request.
This is not the first time that Sherman has been referenced in a customer initiated investment related dispute concerning Sherman’s conduct in the securities industry. FINRA Public Disclosure shows that Sherman is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $10,000.00 in damages based upon allegations that Sherman failed to follow the customer’s instructions and made unauthorized transactions concerning the recommendation and sale of common stocks and preferred stocks when Sherman was associated with Citigroup Global Markets Inc. FINRA Arbitration No. 09-05412 (Sept. 25, 2009).
Sherman has been associated with Morgan Stanley in New York, NY, as a stockbroker since June 1, 2009, and as an investment advisor representative since March 4, 2014.
