Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

FINRA Suspends Former Morgan Stanley Advisor Over Unauthorized Trades

Posted on December 6th, 2022 at 2:10 PM
FINRA Suspends Former Morgan Stanley Advisor Over Unauthorized Trades

From the Desk of Jim Eccleston at ÍøÆØ³Ô¹Ï.

The Financial Industry Regulatory Authority (FINRA) has issued a 20-day suspension and a $6,000 fine to a former Morgan Stanley advisor for allegedly completing several unauthorized trades.

The former California-based advisor, David Lau, placed 194 trades in five client accounts without obtaining written authorization between March and October 2020, according to FINRA. Lau consented to the suspension and fine without admitting or denying any of FINRA’s investigatory findings. Lau has no other disclosures on his record besides Morgan Stanley’s previous allegations and FINRA’s recent discipline.

According to BrokerCheck, Morgan Stanley terminated Lau in March 2021 over allegations of unauthorized trading, and Morgan Stanley’s U5 termination filing subsequently initiated FINRA’s probe. One month after his termination from Morgan Stanley, Lau joined Gladstone ÍøÆØ³Ô¹Ïalth Partners, an LPL Financial affiliate, where he has maintained his investment advisor license, according to FINRA.

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, advisors, law, finra

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

 


It was really fun seeing you fight for us. You have an amazing way of thinking out of the box.


 

Beth M.

LATEST NEWS AND ARTICLES

1783957061 Law
July 13, 2026
FINRA Warns of Growing Risks From Finfluencers and AI-Driven Investment Content

Financial Industry Regulatory Authority (FINRA) regulators are raising concerns about the increasing influence of social media personalities and artificial intelligence (AI) on retail investors, particularly those managing their own investments without professional guidance.

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

1783525964 Law
July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.