We are Investigating Former Morgan Stanley Broker Scott J. Donato for Unsuitable Investment Recommendations
The Sonn Law Group is actively investigating allegations involving former Morgan Stanley financial advisor Scott J. Donato. If you suffered serious investment losses working with this broker, please contact our law firm at (866) 827–3202 to get free, fully confidential legal guidance.
Scott J. Donato (CRD#: 2336331) is a previously registered broker and investment advisor. From 2009 to 2017, Mr. Donato was employed at Morgan Stanley in Miami, Florida. In recent years, multiple investor complaints have been filed against this broker.
As of March of 2019, Mr. Donato was permanently barred from the securities industry after he declined to comply with two separate FINRA requests for information.
Barred Broker: Former Morgan Stanley Representative Scott Donato
Since 2014, at least three different customer complaints were filed against former Morgan Stanley financial advisor Scott J. Donato. All three of these complaints involve allegations that Mr. Donato made unsuitable investment recommendations:
● June 2014: Claimant alleges that Scott J. Donato made unsuitable trades regarding stock options in his brokerage account. Settled for $350,000.
● March 2017: An investor alleged Mr. Donato violated FINRA’s suitability rules. Settled for $995,000.
● November 2017: A customer alleged that Mr. Donato made unsuitable trades in his brokerage account. Settled for $150,000.
Under FINRA Rule 2111, all securities representatives have a professional obligation to ensure that their trades/recommendations are appropriate for each individual customer. Age, risk tolerance, and investment objectives should all be considered. Brokers can be held liable for losses sustained in unsuitable investments.
Jeffrey R. Sonn is an experienced unsuitable investment attorney. If you suffered losses as a result of unsuitable investment strategies promoted by Scott Donato, you may be entitled to compensation. Contact the Sonn Law Group now for more information.