Finra fines ex-Morgan Stanley rep for secretly settling with client

The Miami-based broker is also suspended for 15 days

Sep 1, 2017 @ 2:54 pm

By Investment News

A South Florida broker who Finra said settled a dispute with a client without saying anything to his then-employer has been fined $10,000 and suspended for 15 days.

The Financial Industry Regulatory Authority alleges that Lewis Robinson, who worked at a Morgan Stanley branch in the Miami area from 2009 to 2015, settled complaints from a customer regarding commissions by issuing three checks in the amount of $12,203.23 to the customer's wife. He did so without the knowledge or approval of the firm.

In 2016, Mr. Robinson joined BB&T Securities, where he is currently employed. He began his securities career in 1987 at Thomson McKinnon Securities, then moved to Prudential Securities in 1989. In 2000, he went to work with UBS Financial Services, remaining there for nine years until he moved to Morgan Stanley.

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