Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on June 7, 2016 indicate that Washington DC-based Morgan Stanley broker/adviser Peter Doyle is the subject of a pending customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Doyle (CRD# 2370593).
Peter Doyle has spent 21 years in the securities industry and has been registered with Morgan Stanley in Washington, DC since 2009. Previous registrations include Morgan Stanley & Company in Washington, DC (2008-2009); Wachovia Securities in Washington, DC (2003-2008); and Prudential Securities in New York, New York (1995-2003). He is a registered broker and investment adviser with 23 US states and territories.
According to his BrokerCheck report, Peter Doyle is the subject of one pending customer complaint.
In 2015, a customer alleged Peter Doyle, while employed at Morgan Stanley, executed unauthorized trades and purchased unsuitable investments, and additionally failed to disclose fees associated with the client’s accounts. The customer is seeking $5,000,000 in damages in the pending complaint.
According to a Financial Times report published on June 6, 2016, Morgan Stanley has been ordered to pay $8.6 million in damages and costs to a client who filed a complaint against Peter Doyle and another representative. Mr. Doyle and the other advisor, Wendy Feldman, were accused of “inappropriately collecting more than $2 million in commissions over three and a half years.” and of placing the retiree client in unsuitable investments, including “a risky Chinese internet company as well as a Papua New Guinea oil and gas outfit that at one point made up 43% of the couple’s account holdings.” A FINRA arbitration panel has ordered Morgan Stanley to pay $6.1 million in damages, $2 million in punitive damages, and more than $490,000 in legal costs.
If you or someone you know has complaints regarding Peter Doyle or Wendy Feldman, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.