Call Now For a Free Consultation:
(614) 502-6165

FINRA Bars Former Morgan Stanley Broker for Failure to Cooperate With Investigation

Morgan Stanley Fires Michael Carter

Between 1999 and 2019, Michael Barry Carter (CRD# 3232017) was registered with seven Financial Industry Regulation Authority (FINRA) member firms, including Morgan Stanley, where he served as a General Securities Representative from 2011 to 2019. According to Carter’s BrokerCheck report, he was fired by Morgan Stanley on July 30, 2019 for allegedly misappropriating client funds.

FINRA Bars Carter for Refusing to Hand Over Documents

After receiving an external tip, FINRA initiated a separate investigation into the theft allegations surrounding Carter on August 5, 2019.  FINRA requested certain documents and information from Carter, who failed to respond by the specified deadline. Two weeks later, the regulator issued a second request, which Carter also ignored.

Carter’s attorney discussed the matter with FINRA staff on August 27, 2019 and acknowledged that Carter had received the requests and confirmed that his client would not be supplying the documents and information. By refusing to furnish documents, Carter violated FINRA Rules 8210 and 2010. He was handed a permanent bar from the industry as a result.

Pursue Recovery of Financial Losses with Meyer Wilson

Have you lost money investing with Michael Carter? Contact the security fraud lawyers at Meyer Wilson if you have suffered financial losses due to investment fraud or other acts of misconduct. Our experienced legal team can investigate your case and determine if a broker or brokerage firm engaged in misconduct or committed regulatory violations.

We have recovered over $350 million on behalf of our clients. If you’re ready to pursue justice, contact Meyer Wilson at (800) 738-1960 to arrange a free consultation with our knowledgeable attorneys.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram