Albert Dishner (CRD #: 1912362), a broker and investment advisor registered with Morgan Stanley, was suspended by the Financial Industry Regulatory Authority (FINRA) for ten days, according to his BrokerCheck record, accessed on August 17, 2020. Why was Albert Dishner suspended? Read on to find out more.
On June 17, 2020, Albert Dishner consented to the findings that he exercised discretionary power in a customer’s brokerage accounts in order to purchase equities and option contracts. The findings stated that the customer, a long-term client of Albert Dishner, orally or implicitly gave him authority to exercise discretion, however, Albert Dishner’s member firm did not accept the accounts in writing as discretionary.
Ultimately, Albert Dishner entered into an Acceptance, Waiver and Consent (AWC) with FINRA. Albert Dishner consented to a fine of $5,000 and a 10-day suspension, which lasted from July 20, 2020 to July 31, 2020. A copy of Albert Dishner’s AWC can be viewed here.
This is not the only disclosure on Albert Dishner’s BrokerCheck Record.
On August 8, 2016, a client alleged that Albert Dishner did not follow the customer’s direction to sell securities, and then sold securities without the client’s authorization. The client sought $600,000. The claim was settled for $205,000.
On November 14, 2007, a client alleged that Albert Dishner’s purchase of Ebay shares was too large. The claim was settled for $28,000.
Albert Dishner has passed the Series 66 Uniform Combined State Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the National Commodity Futures Examination, and the General Securities Representative Examination. Albert Dishner is currently a registered broker in Alabama, Alaska, Arizona, California, Colorado, Connecticut, D.C., Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Texas, Vermont, Virginia, West Virginia, Wisconsin, and Wyoming. Albert Dishner is also a registered investment advisor in New Jersey and Texas.
Albert Dishner’s career spans 31 years. In his over three decades in the securities industry, he has worked at the following firms:
- Credit Suisse Securities (USA) LLC (CRD #: 816)
- Morgan Stanley DW Incorporated (CRD #: 7556)
- Painewebber Incorporated (CRD#: 8174)
- Lehman Brothers Incorporated (CRD #: 7506)
If Albert Dishner was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation with a securities attorney.