Broker with more than 50 years experience booted for not cooperating with Finra probe

Broker with more than 50 years experience booted for not cooperating with Finra probe
John Halsey Buck III was fired by Morgan Stanley in January over private securities sales
OCT 12, 2018

A former broker with more than five decades of experience has been booted from the profession for not cooperating with a Finra investigation. John Halsey Buck III agreed to an industry bar in an Oct. 11 settlement letter for failing to provide documents and information requested by the Financial Industry Regulatory Authority Inc. in a probe of his alleged participation in unapproved sales of private securities. Morgan Stanley fired Mr. Buck in January regarding "concerns about the timing and completeness of disclosures to the firm, including disclosures regarding involvement in private investments outside the firm," the letter states. He had been with Morgan Stanley since 2010 and had worked in the industry since January 1965, according to BrokerCheck. The only regulatory disclosure on his record was the selling-away allegation by Morgan Stanley that led to his dismissal.

Latest News

Names of more B-Ds that sold deals of bankrupt Inspired Healthcare surface
Names of more B-Ds that sold deals of bankrupt Inspired Healthcare surface

Broker-dealers that sold the defunct securities backed by Inspired Healthcare generated more than $100 million in fees and commissions.

Former Citigroup, Ameriprise advisor stole $3.5 million from client: report
Former Citigroup, Ameriprise advisor stole $3.5 million from client: report

FINRA barred the advisor, Sung Moo Cho, last month.

MetLife poll finds high-value home sales are becoming tax-planning events
MetLife poll finds high-value home sales are becoming tax-planning events

A new MetLife survey finds real estate professionals are increasingly steering clients toward tax experts as rising property values leave more sellers facing significant capital gains.

Kestra adds Raymond James recruiter to expand advisor hiring push
Kestra adds Raymond James recruiter to expand advisor hiring push

The independent broker-dealer expands its business development bench with a new recruiter and an internal promotion in the West.

Cerity Partners names Will Peng chief innovation officer
Cerity Partners names Will Peng chief innovation officer

The leading ultra-high-net-worth RIA joins other large wealth firms, including Raymond James and LPL, in creating executive roles focused on artificial intelligence strategy

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income

SPONSORED Why direct indexing stopped being optional

Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.