Shawn David Olson of Scottsdale Arizona a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim where the customer sought $5,000,000.00 in damages founded on accusations that Olson executed options transactions in the customer’s account that were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-01766 (July 11, 2017).
FINRA Public Disclosure confirms that Olson is referenced in five more customer initiated investment related disputes pertaining to allegations of his violative conduct during the time that he was associated with Morgan Stanley Smith Barney, Prudential Securities, Inc. and Dean Witter Reynolds Inc. Specifically, a customer initiated investment related arbitration claim concerning Olson’s conduct was resolved for $15,000.00 in damages based upon accusations that Olson effected 1,980 unauthorized options contracts purchases in the customer’s account. American Arbitration Association (AAA) No. 54-13-0160-91.
Thereafter, a customer initiated investment related arbitration claim regarding Olson’s activities was settled for $170,000.00 in damages supported by allegations including unauthorized trading, suitability and churning of the customer’s investment portfolio. National Association of Securities Dealers (NASD) Arbitration No. 94-03009. On August 29, 2002, another customer initiated investment related complaint regarding Olson’s conduct was resolved for $35,000.00 in damages founded on accusations that Olson executed unauthorized trades in the customer’s account and made investment recommendations to the customer that were not suitable concerning stock and over-the-counter equities.
Subsequently, on November 1, 2001, a customer filed an investment related complaint involving Olson’s activities in which the customer requested unspecified damages based upon allegations that Olson over-concentrated the customer’s assets in speculative equity products. And on November 16, 2009, a customer filed an investment related complaint concerning Olson’s conduct where the customer sought $20,000.00 in damages supported by accusations that Olson failed to follow the customer’s investment instructions concerning mutual fund liquidations.
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