Neil Stanley Kaplan, of Bethesda, Maryland, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $240,000.00 in compensation based upon accusations that trades were executed in the customer’s account on an excessive basis by Kaplan while at Morgan Stanley. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01970. The claim alleges that excessive trading of common and preferred stock resulted in damages.
This is the second time that Kaplan has been involved in a customer initiated investment related dispute concerning his sales practices as a stockbroker. FINRA Public Disclosure shows that on March 13, 2020, a customer initiated investment related arbitration claim involving Kaplan’s activities was resolved for $15,000.00 in damages founded on allegations of unsuitable trading relating to corporate bonds during the time that Kaplan was employed by Morgan Stanley Smith Barney. According to the claim, excessive trades were made by Kaplan so that he could generate fees.
Kaplan was associated with Morgan Stanley between June 1, 2009, and November 27, 2017.