Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Laura Casey (also known as Laura H. Casey, Laura Aline Hubbard, and Laura H. Hubbard) [CRD: 2684465, Red Bank, New Jersey].
Laura Casey worked for Morgan Stanley from July 2018 to September 2022 and later joined Capitol Securities Management Inc. in August 2022. However, recent regulatory actions have led to Casey’s suspension due to violations of industry rules.
On July 17, 2024, FINRA sanctioned Laura Casey for violating the Care Obligation of Rule 15l-1 of the Securities Exchange Act of 1934 (Regulation Best Interest, or Reg BI). The regulatory body found that Casey executed trades in brokerage accounts that subjected clients to unnecessary sales charges without considering the comparative costs of transactions. She engaged in short-term trades involving exchange-traded funds (ETFs), which resulted in clients paying upfront sales charges that could have been avoided had the transactions been conducted in advisory accounts. In total, these trades led to $37,757.54 in unnecessary charges; however, Morgan Stanley identified and reversed the transactions, preventing client losses.
Additionally, Casey engaged in discretionary trading without proper authorization. Between March and July 2022, she executed at least 46 trades in seven clients' brokerage accounts without obtaining written authorization. Morgan Stanley had not approved these accounts for discretionary trading, further compounding the regulatory violations.
As a result of these violations, FINRA imposed a $7,500 fine. It also imposed a seven-month suspension from associating with any FINRA member in all capacities, effective from August 5, 2024, to March 4, 2025.
On September 1, 2022, Morgan Stanley filed a Uniform Termination Notice (Form U5), disclosing Casey’s voluntary resignation while under internal review. The firm alleged that Casey had opened brokerage accounts and transferred funds from managed accounts without client authorization. Furthermore, she was accused of engaging in unauthorized trading, leading to the regulatory investigation and subsequent sanctions.
Looking for more information about Laura Casey? If so, reach out to Soreide Law Group online or at (888) 760-6552 to speak with a securities lawyer. The team at Soreide Law Group works on a contingency basis, advances all costs, and helps clients throughout the United States with recovering losses from sales practice misconduct. Casey and the firms she worked for deny accusations of sales practice violations.
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