Former Morgan Stanley Broker, Michael B. Carter, Barred By FINRA For Failing To Cooperate In FINRA Investigation
Michael Barry Carter (CRD # 3232017) is a former Financial Advisor at Morgan Stanely in McLean, VA. Michael Carter has been in the securities industry since 1999 and previously worked at Ameriprise, Merril Lynch, Financial Network Investment Corporation and Dean Witter Reynolds.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in September 2019, FINRA barred Michael Carter from “acting as a broker or otherwise associating with a broker-dealer firm” for failing “to provide documents and information requested by FINRA during the course of an investigation initiated after FINRA received an external tip relating to allegations of misconduct that were ultimately contained in a Form U5 filed by his member firm.”
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2019063523501%20Michael%20Barry%20Carter%20CRD%203232017%20AWC%20va.pdf.
In July 2019, Michael Carter was terminated from Morgan Stanley “after allegations he misappropriated client funds.”
For a copy of Michael Carter’s CRD, click https://brokercheck.finra.org/individual/summary/3232017.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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