Former Broker Bruce Plyer Recently Barred by FINRA After Allegations of Unauthorized Trading
Former Morgan Stanley broker Bruce Plyer was recently barred by FINRA after he refused to appear to provide on-the-record testimony in connection with an investigation into allegations that he executed unauthorized trades in customer accounts.
Plyer was a financial advisor with Morgan Stanley from 2009 to 2016. In November 2016, he was discharged from the firm over allegations that he made unauthorized trades in his client’s accounts. According to his BrokerCheck report, he has multiple customer disputes on his record alleging unauthorized trades, misrepresentation, unsuitability, and fraud. The most recent dispute alleging unsuitable and excessive margin trading settled for $600,000.
FINRA launched an investigation in response to his termination from Morgan Stanley. When FINRA reached out to Plyer for more information, he stated that he received the request and would not appear for on-the-record testimony. His refusal to cooperate with the investigation is a violation of FINRA rules 8210 and 2010. As a result, FINRA permanently barred him from associating with member firms in any capacity.
Did You Lose Money While Investing with Bruce Plyer?
When a broker executes trades in a client's account without prior authorization, it is considered unauthorized trading. Firms such as Morgan Stanley are required to properly supervise their representatives to prevent broker misconduct like unauthorized trading.
If you lost money working with Bruce Plyer, Meyer Wilson would like to hear from you. To find out if you can recoup some or all of your losses from working with Plyer, give our office a call at (888) 390-6491 for a consultation.