Former Morgan Stanley Broker Peter Doyle Barred by FINRA
Former Morgan Stanley broker Peter Doyle is barred from associating with any FINRA member firm in any capacity as a part of a Letter of Acceptance, Waiver & Consent (AWC) entered by FINRA on July 28, 2017.
Peter Doyle was discharged from Morgan Stanley on June 24, 2016, for failing to adhere to firm policies and/or industry rules, including the use of trading discretion in a customer’s account. Earlier that month, Morgan Stanley was ordered by a FINRA arbitration panel to pay over $8 million in damages in a customer dispute concerning allegations that Peter Doyle made unauthorized trades, failed to disclose fees, and engaged in the financial abuse of an elderly customer.
More recently, another customer dispute was filed against Morgan Stanley involving allegations that Peter Doyle made unsuitable investment recommendations to a customer from 2008 until 2016. That dispute was ultimately settled for $600,000.
According to the AWC entered last month by FINRA, Peter Doyle refused to appear for on-the-record testimony related to the events that led to his discharge from Morgan Stanley.
Peter Doyle had been working as a stockbroker since 1995. He worked in New York and Washington, D.C. Most recently, he was working for H. Beck Inc. in Bethesda, Md.
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