Steven Rocco Colli of Morristown New Jersey a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim which was settled for $230,000.00 in damages based in part upon accusations that the customer was placed into options and equities that failed to be suitable for the customer while Colli was associated with Morgan Stanley Smith Barney. FINRA Arbitration No. 17-02380 (Sept. 6, 2018).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Colli is referenced in eleven more customer initiated investment related disputes pertaining to allegations of his violative conduct during the time that he was employed by securities firms including Wells Fargo Advisors LLC, Quick Reilly Inc., Patterson Travis Inc., Banc of America Investment Services Inc. and Morgan Stanley Smith Barney. In particular, on January 19, 2017, a customer filed an investment related complaint in regards to Colli’s conduct where the customer sought unspecified damages supported by allegations that securities purchases had been executed in the customer’s account between 2014 and 2016 that were inappropriate given the customer’s objectives for investing, tolerance for risk or the customer’s financial circumstances.
On February 16, 2017, another customer filed an investment related complaint involving Colli’s activities in which the customer requested unspecified damages founded on accusations of unauthorized margin use causing the customer to experience unwarranted losses on options and stock trades. Then, on May 10, 2017, a customer initiated investment related complaint concerning Colli’s conduct was settled to resolve accusations that between 2014 and 2016, an unsuitable investment strategy had been implemented with the customer’s assets; excessive fees had been charged to the customer on trades; and margin was improperly utilized to effect securities transactions.
Subsequently, a customer initiated investment related arbitration claim involving Colli’s activities was settled for $45,000.00 in damages based upon allegations that misrepresentations were made concerning the terms, conditions or risks of options sold to the customer; and transactions effected in the customer’s investment account failed to be suitable for the customer. FINRA Arbitration No. 16-01174 (June 29, 2017).
Colli has been registered with Morgan Stanley since December 2, 2011.
