DARRYL MATTHEW COHEN Formerly of Morgan Stanley

According to FINRA’s BrokerCheck, on Dec. 30, 2021, a FINRA extended hearing panel ruled that DARRYL MATTHEW COHEN (CRD#: 2786613) should be barred on February 16, 2022 if no further action is taken, due to his refusal to provide information requested by FINRA. Cohen was discharged from Morgan Stanley Smith Barney, LLC, in Westlake Village, California, according to BrokerCheck, in March of 2021, due to, “Allegations relating to the representative's facilitation of outside client business and transactions not disclosed to or approved by Morgan Stanley and use of an unapproved platform to engage in inappropriate communications with clients.” Cohen was with Morgan Stanley from June 5, 2015 until April 8, 2021.
In a recent article in Financial Advisors IQ, it stated that Cohen had been part of the Global Sports Entertainment Group at Morgan Stanley, a division that caters to athletes and entertainers.  Two former NBA players are suing Morgan Stanley alleging that payments were made without the prior approval from their accounts between 2017 and 2019. The athletes are seeking $5 million in damages.  The former NBA players allege they were encouraged by Cohen to get a liquidity access line of credit for real estate and life insurance policies.
FINRA’s Regulator Statement says in part, “The findings stated that some of Cohen's customers at his member firm filed arbitration claims against the firm, alleging, among other things, that Cohen had mismanaged their accounts and engaged in selling away through the facilitation of loans to third parties. Those claims prompted FINRA to commence the investigation. Subsequently, additional customers whose accounts had been serviced by Cohen filed claims. Most of the complaining customers were current and former professional athletes.”
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, DARRYL MATTHEW COHEN, was in the securities industry for 24 years and was listed with 3 firms.  He has 11 Disclosures on his FINRA CRD report, 9 are “Customer Disputes.” Two of the pending disputes are requesting damages of $2,000,000.00 and $2,300,000.00, alleging, “Claimants allege, inter alia, that payments were made without prior approval from their accounts and in that they were encouraged to use a Liquidity Access Line for real estate and life insurance policies for which they now claim they hold no interest. 2017-2019,” and  “Claimants allege, inter alia, unsuitability with respect to investments and Credit line - 2015 through 2020.”
If you’ve suffered investment losses due to the actions or recommendations of DARRYL MATTHEW COHEN formerly of Morgan Stanley, Westlake Village, California, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis, no fee if no recovery, and represents our clients nationwide before FINRA.