Michael Harvey Siva of Morristown New Jersey a stockbroker formerly registered with Morgan Stanley was terminated on August 18, 2017 based upon accusations that he committed securities fraud.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Siva has been identified in four customer initiated investment related disputes containing allegations of Siva’s improper conduct since termination from Morgan Stanley. In particular, on January 3, 2018, a customer filed an investment related complaint involving Siva’s conduct alleging that unauthorized equity trades were placed in the customer’s account between 2014 and 2017.
Thereafter, a customer filed an investment related arbitration claim pertaining to Siva’s activities where the customer sought $20,000.00 in damages based upon accusations that stock trades were executed in the customer’s account on an excessive basis between 2014 and 2017. FINRA Arbitration No. 18-00288 (Jan. 24, 2018). Subsequently, a customer filed an investment related arbitration claim regarding Siva’s conduct in which the customer requested $12,500.00 in damages supported by allegations that trades were effected in the customer’s account from 2015 to July 2017 that the customer never authorized. FINRA Arbitration No. 18-00382 (Feb. 2, 2018). Then, a customer filed an investment related arbitration claim concerning Siva’s conduct alleging unauthorized equity trading. FINRA Arbitration No. 18-00801 (Mar. 12, 2018).
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