Tag: Thomas Meier

HANLEY LAW INVESTIGATES THOMAS MEIER EX-MORGAN STANLEY BROKER MIAMI FLORIDA

According to the Financial Industry Regulatory Authority (“FINRA”) a Letter of Acceptance, Waiver and Consent (“AWC”) was issued in which Meier was barred from the industry. Meier consented to FINRA’s sanction and to FINRA’s findings that he effected approximately 1,290 unauthorized transactions, including both purchases and sales of equity securities, in eight accounts belonging to six customers. The findings stated that none of the eight accounts were discretionary accounts and Meier did not have discussions with the customers about the trades prior to the transactions and did not obtain the customers’ authorization prior to executing any of the transactions. FINRA found that Meier received approximately $265,000 in commissions for those transactions and that two of the customers realized losses of approximately $78,000.

FINRA’s findings also state that Meier exercised discretion in five accounts belonging to four separate customers. According to FINRA, none of the customers gave Meier written authorization to exercise discretion in their accounts, and the firm had not accepted any of the accounts as discretionary. FINRA’s findings also allege that Meier made inaccurate statements on annual compliance questionnaires that he did not have any accounts in which business was transacted on a discretionary basis. (FINRA Case #2016049628301)

In a Uniform Termination Notice for Securities Registration (“Form U5”) dated April 5, 2016, Morgan Stanley reported that Meier had resigned effective March 15, 2016 while “under internal review for potential issues involving his trade activity, including possible use of discretion.” Between April 5, 2016 and October, 2017, Morgan Stanley filed 21 amended Forms U5 for Meier disclosing 14 customer complaints, including two arbitration claims. To date, the Morgan Stanley has settled 13 of these claims and paid the customers a total of approximately $2.5 million.

Thomas Meier (CRD # 1146044) has been registered with the following firms:

Morgan Stanley
CRD # 149777
Miami, FL
06/01/2009 – 04/05/2016

Citigroup Global Markets, Inc.
CRD # 7059
Miami, FL
10/28/1992 – -6/01/2009

Prudential Securities Inc.
CRD# 7471
New York, NY
08/25/1989 – 11/03/1992

FSC Securities Corp.
CRD# 8323
06/21/1983 – 12/05/1989

Thomson McKinnon Securities, Inc.
CRD# 829
New York, NY
03/18/1989 – 08/25/1989

Amerifirst Securities Corp.
CRD#10711
12/10/1985 – 02/25/1989

Merrill Lynch, Pierce, Fenner & Smith, Inc.
CRD# 7691
04/18/1984 – 08/05/1985

HANLEY LAW

Hanley law represents individual investors nationwide with significant losses in their portfolios, retirement plans or investment accounts. The firm is dedicated to assisting investors to recover losses suffered by unsuitability, over-concentration, fraud, misrepresentation, self-dealing, unauthorized trades or other wrongful acts, whether intentional or negligent. The firm handles cases against the major Wall Street broker dealers, including Morgan Stanley.

Let Hanley Law work for you. Call (239)649-0050 or contact the firm through our Website to arrange a free confidential consultation with an attorney to discuss your experiences with your stock broker which resulted in investment losses.

Hanley Law Investigates Thomas Meier Ex Morgan Stanley Rep Barred by FINRA

According to the Financial Industry Regulatory Authority (“FINRA”) former Morgan Stanley rep Thomas Alan Meier (CRD 1146044) has been barred from the industry for unauthorized trading in his customers’ accounts. FINRA found that Meier effected approximately 1,290 unauthorized transactions in eight accounts belonging to six customers, including three married couples.   Meier did not have authority to trade according to his discretion in any of the at issue customer accounts. The unauthorized transactions entered by Meier were both buys and sales of equity securities.

Meier earned approximately $265,000 in commissions for the unauthorized transactions. Meier did not speak with his customers about the trades prior to conducting the transactions and he did not obtain the customers’ authorization prior to executing any of the transactions. As of February 29, 2016, four of the at issue customers suffered unrealized losses of approximately $1.4 million in their accounts. During the period 2014 through 2015, one of the customers realized a loss of approximately $120,000 and another realized a net loss of approximately $520,000. To date, Morgan Stanley has paid a total of approximately $2.5 million to customers in connection with complaints about Meier.

According to FINRA, Meier resigned from Morgan Stanley in March 2016 while Morgan Stanley was reviewing his trading activity.  Meier entered the securities industry in 1984.  Meier has been registered with the following firms:

Morgan Stanley
CRD 149777
Miami, FL
06/2009 – 4/2016

Citigroup Global Markets, Inc.
CRD 7059
Miami, FL
10/1992 – 06/2009

Prudential Securities Inc.
CRD 7471
New York, NY
8/1989 – 11/1992

FAIC Securities, Inc.
CRD 8323
6/1983 – 12/1989

Thomas McKinnon Securities, Inc.
CRD 829
New York, NY
3/1989 – 8/1989

Amerifirst Securities Corporation
CRD 10711
12/1985 – 2/1989

Merrill Lynch, Pierce, Fenner & Smith Inc.
CRD 7691
4/1984 – 8/1985

HANLEY LAW

Hanley law represents individual investors nationwide with significant losses in their portfolios, retirement plans or investment accounts.  The firm is dedicated to assisting investors to recover losses suffered by unsuitability, over-concentration, fraud, misrepresentation, self-dealing, unauthorized trades or other wrongful acts, whether intentional or negligent.  The firm handles cases against the major Wall Street broker dealers, including Morgan Stanley.

Let Hanley Law work for you. Call (239) 649-0050 or contact the firm through our Website to arrange a free confidential consultation with an attorney to discuss your experiences with your stock broker which resulted in investment losses.