Peter Michael Riley, of Plano, Texas, a stockbroker formerly registered with Morgan Stanley Smith Barney, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he neglected to respond to FINRA’s request for information concerning his business activities. Case No. 2016051087301 (Jan. 9, 2017).
Riley was fired by Morgan Stanley Smith Barney on August 3, 2016, based upon accusations that he forged customer account documentation to facilitate transfers of funds to accounts under Riley’s control. Morgan Stanley claimed that Riley provided the firm with dubious information and documentation referencing his business activities in that regard.
FINRA Public Disclosure confirms that on November 16, 2009, a customer filed an investment related written complaint involving Riley’s conduct, wherein the customer requested $5,000.00 in damages founded on allegations that while Riley was a financial advisor with UBS Financial Services, Inc., he promised a customer thirty-percent investment returns, and failed to reallocate the customer’s account according to the customer’s expectations.
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