Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on August 9, 2016 indicate that New York-based Morgan Stanley broker/adviser Arthur Caruso has been the subject of customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Caruso (CRD# 1816452).
Arthur Caruso has spent 28 years in the securities industry and has been registered with Morgan Stanley in New York, New York since 2009. Previous registrations include Citigroup Global Markets in New York, New York; UBS Financial Services in New York, New York; Investors Center in Hauppauge, New York; and Blinder Robinson & Company. He is a registered broker and investment adviser with 28 US states and territories.
According to his BrokerCheck report, Arthur Caruso has received two customer complaints and one regulatory sanction.
In 2012, a customer alleged Arthur Caruso, while employed at UBS Financial Services, never discussed certain structured product investments with her prior to purchasing them. The complaint settled in 2013 for $2,340.
In 1996, a customer alleged Arthur Caruso, while employed at PaineWebber, executed unauthorized trades. The complaint settled for $60,000.
In 1989, the State of Michigan sanctioned Arthur Caruso following allegations he failed to pay the balance of a renewal fee. His registration was revoked.
According to FINRA rules and federal securities law, financial professionals like Arthur Caruso are prohibited from executing transactions without a customer’s permission or authorization. There are some exceptions, including discretionary accounts and, in some circumstances, margin accounts. Brokers, investment advisers, and broker-dealer firms who effect unauthorized trades may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Arthur Caruso, you may be able to collect lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.