FINRA

Without admitting or denying the findings, Stocks consented to the sanctions and to the entry of findings that he engaged in an OBA without providing prior written notice to his member firm. The findings stated that Stocks formed business entities for the purpose of purchasing and operating a hotel. After the hotel was purchased, Stocks remained involved with the hotel's operations, including by making hiring decisions, interacting with the hotel's general manager, and participating in contract negotiations. Stocks expected to receive compensation from this OBA by sharing in the hotel's profits. Stocks failed to provide written notice to his firm for more than three years, during which he completed two firm annual compliance attestations in which he falsely stated that he had disclosed all of his OBAs.

Acceptance, Waiver & Consent(AWC)

Civil and Administrative Penalty(ies)/Fine(s)

$10,000.00

Suspension

All Capacities

30 days

1/6/2025

2/4/2025

MORGAN STANLEY

Discharged

Concerns regarding representative's participation and activities in an outside hotel investment in which clients of the Firm were also invested. No known client complaints relating to this investment.

UNAUTHORIZED TRADES, NEGLECT, BREACH OF FIDUCIARY DUTY, POOR PERFORMANCE, RETURN OF PERSONAL PROPERTY.

$35,000.00

MISREPRESENTATION.

$52,000.00

$1,000.00

THE COMPLAINT WAS SETTLED TO AVOID THE TIME AND EXPENSES OF POTENTIAL LITIGATION FOR $1,000 IN EXCHANGE FOR A GENERAL RELEASE OF ALL CLAIMS AND WITHOUT THE ADMISSION OF ANY LIABILITY ON THER PART OF THE MORGAN STANLEY OR MYSELF.