Finra bars former Morgan Stanley broker accused of accepting loans from clients

Michael Ralby declined to take part in the investigation, leading to the regulator's action.
MAR 05, 2018

An ex-Morgan Stanley broker terminated for allegedly accepting loans from clients was barred by the Financial Industry Regulatory Authority Inc. after he declined to take part in its investigation. Michael Ralby, who worked for the firm in Boca Raton, Fla., was terminated in January. Finra routinely investigates brokers who are terminated and if they don't agree to participate in the investigation they face being barred from the industry. Mr. Ralby began his securities career at First Miami Securities in 1984 and moved to Smith Barney in 1990, where he stayed for five years. He then worked for four firms before joining Oppenheimer & Co. in 2009. He moved to Morgan Stanley in 2013.

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.