Michael Ralby In Morgan Stanley Client Disputes

Morgan Stanley Clients Voice Problems With Suitability Of Securities Broker Michael Ralby's Transactions

The investment loss recovery team at Soreide Law Group provides updates from time to time on securities brokers who are involved in investor disputes. The firm comes to you with a new update regarding securities broker Michael Bruce Ralby (CRD#: 1301072, Boca Raton, Florida), who worked for securities firms JWGenesis Securities, First Union Securities Financial Network, FSC Securities Corporation, Stanford Group Company, Oppenheimer, and Morgan Stanley. Here’s what we know about the investor disputes.

Michael Ralby’s Morgan Stanley Client Alleges Unsuitable Municipal Bonds, UITs

Evidently, Michael Ralby worked as a Morgan Stanley securities broker from July 2013 to January 2018. It appears that a client of Morgan Stanley contested Ralby’s sales practices. Basically, the client alleges that Ralby made unsuitable trades involving municipal bonds and unit investment trusts (UITs). Because of the trades between 2015 and 2017, the client purportedly sustained losses. For this reason, Morgan Stanley opted to settle this matter by paying $12,500 to the client in March 2020.

Client Of Morgan Stanley Smith Barney Alleges Unsuitable Structured Products

A second disclosure on Michael Ralby’s BrokerCheck record comes from a Morgan Stanley Smith Barney client in July 2018. Specifically, the client alleges that Ralby had them invest in unsuitable structured products. Supposedly, the client experienced damages through holding those investments in March-August 2016. Consequently, Morgan Stanley, without admitting any wrongdoing, compensated the client in the amount of $13,604 to settle this matter in August 2018.

Michael Ralby Allegedly Engages In Unsuitable Trading Of Investments At Morgan Stanley

In a third dispute on BrokerCheck, a client of Morgan Stanley alleges unsuitability. Specifically, from October 2013 to December 2017, Michael Ralby supposedly placed the client in unsuitable corporate bonds and structured products. Because of this, the client asks for compensation. However, this matter appears to be closed, with no further action taken by the client as of September 2018.

Financial Industry Regulatory Authority Bars Ralby For Refusing To Cooperate In Investigation

It appears that in March 2018, FINRA prohibited Michael Ralby from working as a securities broker for FINRA member firms. This is to resolve allegations that Ralby failed to obey instructions relating to a FINRA investigation.
Supposedly, FINRA wanted to determine if Ralby improperly accepted loans from a client. But before the regulator could make its determination, it needed Ralby to testify. Because Ralby refused, the regulator could not conclude its investigation. However, because Ralby did not cooperate, FINRA says that he is indefinitely barred in all capacities.

Client Alleges Unauthorized Trading By Michael Ralby At Morgan Stanley

Moreover, a client of Morgan Stanley disputed Michael Ralby’s trading of municipal bonds. Supposedly, from July 2013 to December 2016, Ralby engaged in unauthorized trading. Allegedly, Ralby caused the client damages by trading without their consent at Morgan Stanley. Without admitting or denying the allegations, Morgan Stanley agreed to settle this investor’s matter by paying them $35,450.

Did You Sustain Damages By Investing Through Ralby?

Did securities broker Michael Ralby engage in sales practice violations resulting in your losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered meaningful compensation for United States investors who incurred losses from their financial advisors and securities brokers. Please note that Ralby denies all allegations of his sales practice violations.