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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 (614) 532-4576 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 .

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