{"id":7119,"date":"2019-05-24T11:20:54","date_gmt":"2019-05-24T16:20:54","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=7119"},"modified":"2019-05-24T11:20:54","modified_gmt":"2019-05-24T16:20:54","slug":"morgan-stanley-ordered-to-pay-fine","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-ordered-to-pay-fine\/","title":{"rendered":"Morgan Stanley Ordered to Pay $519K to Retired Couple"},"content":{"rendered":"<p>\t\t\t\tA <a href=\"http:\/\/www.finra.org\" target=\"_blank\" rel=\"noopener noreferrer\">Financial Industry Regulatory Authority <\/a>(FINRA) arbitration panel has awarded $519,000 to Stephen and Brenda Balock in their investor fraud claim against Morgan Stanley (MS). The couple contends that that one of the firm\u2019s brokers, Tim J. Prouty, placed their funds in investments that were complex and inappropriate for them, causing them to lose money in eight accounts between 2012 and 2015. They filed their claim against Morgan Stanley in 2016.<\/p>\n<p>The Balocks began working with Prouty after Stephen\u2019s employer, the Public Service Co. of New Mexico, compelled him into early retirement due to downsizing. He had never worked with a broker before then.<\/p>\n<p>The couple wanted to invest in certificates of deposit. Instead, Prouty placed them in a Morgan Stanley investment advisory program that involved more complex investments, such as options contracts, derivates, junk bonds, and exchange-traded funds. In their investor claim against Morgan Stanley, the Balocks made a number of allegations, including the following:<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-ordered-to-pay-fine\/\"  title=\"Continue Reading Morgan Stanley Ordered to Pay $519K to Retired Couple\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded $519,000 to Stephen and Brenda Balock in their investor fraud claim against Morgan Stanley (MS). The couple contends that that one of the firm\u2019s brokers, Tim J. Prouty, placed their funds in investments that were complex and inappropriate for them, causing them to lose money [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":314,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3953,3773,3774,3739,3803],"tags":[2283,3419],"class_list":["post-7119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arbitration-rulings","category-broker-fraud","category-broker-dealers","category-finra","category-senior-investors","tag-morgan-stanley","tag-tim-j-prouty"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Morgan Stanley Ordered to Pay $519K to Retired Couple &#8212; Investor Lawyers Blog &#8212; May 24, 2019<\/title>\n<meta name=\"description\" content=\"A FINRA arbitration panel has awarded $519,000 to Stephen and Brenda Balock in their investor fraud claim against Morgan Stanley (MS).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-ordered-to-pay-fine\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morgan Stanley Ordered to Pay $519K to Retired Couple &#8212; Investor Lawyers Blog &#8212; May 24, 2019\" \/>\n<meta name=\"twitter:description\" content=\"A FINRA arbitration panel has awarded $519,000 to Stephen and Brenda Balock in their investor fraud claim against Morgan Stanley (MS).\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/03\/sseklaw-nyse-header.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Morgan Stanley Ordered to Pay $519K to Retired Couple &#8212; Investor Lawyers Blog &#8212; May 24, 2019","description":"A FINRA arbitration panel has awarded $519,000 to Stephen and Brenda Balock in their investor fraud claim against Morgan Stanley (MS).","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-ordered-to-pay-fine\/","twitter_card":"summary_large_image","twitter_title":"Morgan Stanley Ordered to Pay $519K to Retired Couple &#8212; Investor Lawyers Blog &#8212; May 24, 2019","twitter_description":"A FINRA arbitration panel has awarded $519,000 to Stephen and Brenda Balock in their investor fraud claim against Morgan Stanley (MS).","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/03\/sseklaw-nyse-header.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-ordered-to-pay-fine\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-ordered-to-pay-fine\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Morgan Stanley Ordered to Pay $519K to Retired Couple","datePublished":"2019-05-24T16:20:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-ordered-to-pay-fine\/"},"wordCount":433,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-ordered-to-pay-fine\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/03\/sseklaw-nyse-header.jpg","keywords":["Morgan Stanley","Tim J. 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