Former Morgan Stanley Broker Stewart Malloy the Subject of Regulatory Action and Customer Complaints
Former Morgan Stanley broker Stewart Malloy has been the subject of two regulatory actions and eight customer disputes.
According to his BrokerCheck report, Malloy left Morgan Stanley in 2015 and has not re-registered with another FINRA member firm. Last month, he was named a respondent in a formal FINRA action for failing to cooperate with an investigation into allegations of misconduct against him.
Malloy was previously the subject of a regulatory investigation back in 2015, when he agreed to a FINRA Letter of Acceptance, Waiver and Consent (AWC) relating to allegations that he engaged in unauthorized trading and lied on a compliance questionnaire. He agreed to a 30-day suspension and consented to pay a $5,000 fine to settle the allegations.
Malloy has been the subject of eight customer complaints dating back to 1989. The complaints, which allege discretionary trading, unsuitability, unauthorized trading, breach of fiduciary duty, and failure to follow customer instructions, occurred during his employment with Morgan Stanley and Merrill Lynch.
Did You Lose Money While Investing with Stewart Malloy?
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