Published On: July 7, 2015

According to a Hearing Panel Decision by the Financial Industry Regulatory Authority (FINRA), Audra Lynn Lalley, a registered representative at Morgan Stanley Smith Barney in the Private Wealth Management group, allegedly effected a set of trades pursuing a particular investment strategy for a group of clients. Allegedly, Ms. Lalley did not contact the clients when she executed the trades. The client complained that he did not receive an explanation for the trades, either and then asked her to reverse the trade. In Ms. Lalley’s failure to obtain authorization to make the trades, Morgan Stanely, her former firm, can be held liable. They had a duty to reasonably supervise her while she was employed there and can be sued in the FINRA arbitration process. Ms. Lalley was employed by Goldman Sachs in New York, New York from October 1998 until April 2002, Morgan Stanley in Los Angeles, California from May 2002 until November 2011 and Barclays Capital, also in Los Angeles from November 2011 until May 2014. She has two customer disputes against her. She is not currently licensed to act as a broker.

If you invested money with Audra Lynn Lalley, please contact our securities law office at 312-332-4200 to speak to an attorney. The call is free with no obligation. We can help you discuss your options of suing Morgan Stanley.

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