FINRA found that Eric Kleiner (CRD 4135180) refused to provide documents and information it requested during an investigation. Without admitting or denying the findings, Kleiner consented to the sanction and to the entry of findings.
FINRA found that Eric Kleiner (CRD 4135180) refused to provide documents and information it requested during an investigation. Without admitting or denying the findings, Kleiner consented to the sanction and to the entry of findings.
BrokerCheck dates the regulatory event October 31, 2025, under FINRA case number 2024084330501, and names Morgan Stanley as the firm. The investigation grew out of FINRA's review of the Form U5 his member firm filed when it discharged Eric Kleiner.
According to the finding, that form cited concerns about his recommendation of non-firm approved and firm restricted investments to customers, among other issues.
The earliest customer dispute is a Wells Fargo Advisors arbitration that began on June 15, 2009. It listed claims including fraud, misrepresentations, unsuitable investments, breach of fiduciary duty, negligence and breach of contract. With alleged damages of $226,865, it settled on July 12, 2010 for $90,000.
On April 25, 2025, a claimant alleged that Kleiner recommended an investment strategy Morgan Stanley had not authorized. The alleged period ran from November 2020 to March 2025. That claim, docket number 25-00827, settled on March 30, 2026 for $110,000.
Another claim, docket number 25-00550, dates to April 16, 2025. It alleged that the investment strategy in the claimant's accounts was unsuitable. It also alleged an outside strategy the firm had not approved, from September 1, 2016 to February 28, 2025. Settlement came on April 13, 2026, for $700,000.
In a claim filed July 2, 2025, docket number 25-01202, the claimant alleged that Eric Kleiner recommended an outside investment strategy the firm had not approved. That period ran from May 2018 to March 2025. BrokerCheck shows a $325,000 settlement on July 31, 2026.
Most recently, a Morgan Stanley claim from April 21, 2025, docket number 25-00807, settled on October 1, 2026 for $185,000.
FINRA Rule 8210 lets FINRA require documents, information, and on-the-record testimony during an investigation. The rule covers member firms and the people who work for them. Refusing to comply is also a violation in itself. As a result, a refusal often leads to a bar from the securities industry.
Brokerage firms have a duty to supervise the brokers who work for them. If Eric Kleiner handled your account and you have questions, Soreide Law Group can go over it with you. Call (888) 760-6552 or contact us online. Because these claims go to FINRA arbitration rather than a local court, we handle them for investors nationwide. We work on a contingency fee basis. Here is how FINRA arbitration works.
This post summarizes public FINRA records, including BrokerCheck, as of October 21, 2026. Allegations in customer complaints and arbitrations are claims, not findings. A settlement is also not an admission of wrongdoing. FINRA may also update or correct these records after that date.
FINRA found that Eric Kleiner (CRD 4135180) refused to provide documents and information it requested during an investigation. Without admitting or denying the findings, Kleiner consented to the sanction and to the entry of findings.
James Simmons (CRD 2438224) says he is not a respondent in a pending arbitration that appears on his BrokerCheck report. A claimant filed it on September 15, 2026, and the disclosure names Alexander Capital as the firm. The allegations are unproven, and no arbitrator has ruled on them. His statement disputes the claimant's account.
Diana Leon's BrokerCheck report shows a $700,000 settlement of a structured note arbitration in September 2026. Leon's CRD number is 4857407. The disclosure names Woodbury Financial as the firm, as do the other disputes on her report. Each involves structured notes, and each settled in September 2026.
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