Roy Daniel Budd of Little Falls, New Jersey, a stockbroker formerly registered with Morgan Stanley, was referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $53,000.00 in damages because Budd allegedly made unsuitable investment recommendations for the customer’s managed account at Morgan Stanley Smith Barney in April of 2019. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-02778 (June 23, 2022).
This is not the first time that Budd has been the subject of a customer initiated investment related dispute. FINRA Public Disclosure shows that a FINRA securities arbitration claim concerning Budd’s activities was settled for $420,000.00 in damages based upon allegations that Salomon Smith Barney failed to supervise Budd’s transactions for the customer’s account.
Since June 1, 2009, Budd has been registered with Morgan Stanley as a stockbroker and investment adviser representative.
