Former Morgan Stanley broker Kevin Woolf was under investigation by FINRA
for allegations that he engaged in numerous outside business activities,
including hotel development, and took part in marketing undisclosed private
securities offering for that development to customers of Morgan Stanley.
According to FINRA, Woolf voluntarily resigned from his position with Morgan
Stanley while under an internal review for allegedly conducting outside
business activity involving an undisclosed private securities offering
for a real estate project.
FINRA requested Woolf to appear for testimony and provide certain documents
and information to the investigators. Although he acknowledged that he
received the request, Woolf failed to appear and refused to produce the
information and documents that FINRA requested. Instead, without admitting
to any wrongdoing, Woolf signed a Letter of Acceptance and Waiver and
Consent (AWC), and was barred from working with FINRA member firms as a result.
Has Investment Advice Caused You to Lose Money?
Brokerage firms are required to supervise the activities of their associates
to ensure compliance with FINRA rules. When brokers like Kevin Woolf commit
FINRA violations like marketing undisclosed private securities to customers
while registered with a brokerage firm, the brokerage firm can be held
liable for any resulting damages.
If you lost money while working with Kevin Woolfe, you may be able to recoup
losses. Call our office today at (888) 390-6491 to
schedule a free case evaluation.