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A former Morgan Stanley broker likely will defend himself against charges by several pro athletes that he ripped them off by citing investment returns. A current NBA player, his wife and two former NBA players allege that Darryl Matthew Cohen improperly diverted a total of about $10 million from their accounts, according to a recent […]
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A once top-producing Morgan Stanley broker in Southern California is facing an industry bar after racking up millions of dollars in client complaints from his former professional athlete customers, including former basketball star Chandler Parsons, according to regulatory filings. The Financial Industry Regulatory Authority’s enforcement division said it has decided to ban Darryl M. Cohen […]
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A Financial Industry Regulatory Authority arbitration panel has ordered Morgan Stanely to hand over control of three accounts to Chris Bosh in a contentious dispute between the former pro basketball player and his mother over ownership of the funds, according to an arbitration award. The three arbitrators, however, denied claims from Bosh against the firm […]
InvestmentNews
A Finra arbitration panel ordered TD Ameritrade Inc. to pay an investor $720,816 in a case involving an alleged lack of oversight of an investment adviser to whom it provided custodial services. In an Aug. 28 award, a three-person, all public Financial Industry Regulatory Authority Inc. arbitration panel found TD Ameritrade liable for losses a […]
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J.P. Morgan Securities has paid $14 million to settle a claim that it failed to supervise a Los Angeles broker who a client accused of a litany of sales, trading and loan promise abuses, according to regulatory filings. The broker, Antoine Souma, joined Morgan Stanley’s private wealth business in June 2016, and “vehemently denies” the […]