Peter Michael Riley of Plano Texas a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related complaint which was resolved for $20,000.00 on July 19, 2018 based upon accusations that unauthorized stock trades were executed in the customer’s account by Riley between March of 2013 and May of 2018.
This is the first customer initiated investment related complaint concerning Riley’s conduct since he was sanctioned by FINRA. Particularly, Riley been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that he failed to provide a response to a FINRA inquiry. His lack of cooperation initially resulted in his suspension on October 28, 2016. Riley reportedly failed to seek the termination of his suspension within a three month period beginning with the date he was notified about the suspension. FINRA automatically barred Riley in all capacities on January 9, 2017.
FINRA sought information from Riley around the time he was terminated from Morgan Stanley Smith Barney. In fact, on August 3, 2016, Riley was discharged by Morgan Stanley based upon accusations that he effected transfers to accounts under his control by way of furnishing documents containing forged signatures; and Riley failed to be forthcoming with the securities broker dealer in regard to his activities.
