Steven Rocco Colli, of Morristown, New Jersey, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related written complaint on February 16, 2017, based upon allegations that Colli, from 2014 to 2017, utilized the customer’s margin without authorization to effect options and equity transactions.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Colli has been identified in ten additional customer initiated investment related disputes containing allegations of Colli’s misconduct while employed with Wells Fargo Advisors, LLC, Quick & Reilly, Inc., Banc of America Investment Services, Inc., Patterson Travis Inc., and Morgan Stanley Smith Barney.
Particularly, on August 16, 2004, a customer initiated investment related arbitration claim involving Colli’s conduct was settled for $3,600.00 in damages based upon allegations that Colli sold the customer a variable annuity that was unsuitable. On March 5, 2014, a customer initiated investment related arbitration claim regarding Colli’s activities was resolved for $40,000.00 in damages based upon allegations that Colli effected unsuitable options transactions in the customer’s accounts.
Additionally, on May 9, 2016, a customer filed an investment related arbitration claim involving Colli’s conduct, wherein the customer requested $150,000.00 in damages based upon allegations that Colli effected options transactions in the customer’s account that were misrepresented and unsuitable for the customer.
Further, on October 26, 2016, a customer filed an investment related written complaint involving Colli’s actions, in which the customer requested $39,015.90 in damages based upon allegations that Colli traded the customer’s margin account in an unsuitable matter, and charged the customer with excessive fees. On January 19, 2017, another customer filed an investment related written complaint regarding Colli’s activities, based upon allegations that Colli effected unsuitable equity purchases in the customer’s account.
Since October 21, 1993, Colli has been associated with eight different broker dealers, three of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
Guiliano Law Group
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