Justin Amaral, of Boston, Massachusetts, a stockbroker with Morgan Stanley, became subject to a pending customer dispute on February 4, 2016, in which the customer requested $750,000.00 in damages in connection with allegations against Amaral which included Amaral breaching his fiduciary duty to the customer pertaining to investments.
FINRA BrokerCheck reveals that Amaral has been subject to four additional disclosure incidents regarding misconduct. On May 1, 2014, Morgan Stanley terminated Amaral amid allegations that he used improper discretionary trading authority in several firm customer accounts. On June 3, 2014, Amaral settled a customer dispute for $313,500.00 baseed upon the allegations that Amaral made misrepresentations to the customer concerning investments, and mismanaged the customer’s investments.
On January 30, 2015, a customer was awarded $1,074,777.30 in damages after lodging a dispute containing allegations that Amaral made unsuitable investment recommendations to the customer concerning closed end funds, and made misrepresentations to the customer concerning investments.
Amaral was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he failed to provide FINRA with recorded testimony in connection with FINRA’s investigation into allegations of Amaral’s misconduct. Amaral was found by FINRA to have violated FINRA Rules 2010 and 8210 in this regard.
Guiliano Law Group
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