Published On: November 10, 2015

According to his Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Stewart Clinton Malloy was recently fined $5,000 and suspended from association with any FINRA member firm in any capacity for 30 business days. According to his AWC, Malloy effected transactions in the account of customers without having obtained prior written authorization from the customers. Malloy also allegedly falsely stated on a compliance questionnaire that he had no discretionary accounts. These are against securities rules and regulations. Firms such as Morgan Stanley have a duty to reasonably supervise their brokers, and, if they do not, can be held responsible for financial losses in the FINRA arbitration forum. We sue firms such as Morgan Stanley to recover losses for investors.

Stewart Clinton Malloy was registered with Merrill Lynch in New York, New York from January 1982 until September 1996, and Morgan Stanley in Riverhead, New York from September 1996 until October 2015. He has six customer disputes against him. He is not currently registered with any member firm.

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