Daniel John Meyers, of New Haven, Connecticut, a stockbroker with Morgan Stanley, was fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015048045501 (Aug. 19, 2016).
According to the AWC, from January of 2013 through March of 2013, twenty-six transactions were effected by Meyers in the account of one of the firm’s customers. Apparently, the transactions were effected on an unauthorized basis. FINRA found that Meyers’ conduct in this regard was violative of FINRA Rule 2010.
The AWC stated that in April of 2013, the affected customer lodged a complaint against Meyers regarding the unauthorized transactions. Meyers reportedly failed to inform his firm regarding the customer’s complaint in an attempt to settle the customer’s complaint outside the auspices of the firm. FINRA claimed that Meyers’ conduct here was violative of FINRA Rule 2010. Prior to FINRA’s disciplinary action against Meyers, he was terminated by Wells Fargo Advisors on August 8, 2016, in connection with his misconduct.
Public disclosure records reveal that Meyers has been subject to four disclosure incidents. On May 5, 2008, Meyers settled a customer dispute for $50,000.00 after the customer alleged that Meyers was instructed to make purchases in CD’s, when the customer’s assets were instead utilized by Meyers in order to purchase auction rate securities.
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