Roy Daniel Budd, Broker with Morgan Stanley, Named in Customer Dispute Alleging Recommendation of Unsuitable Investments

INVESTORS: Morgan Stanley broker Roy Daniel Budd was named in a customer dispute alleging recommendation of unsuitable investments.

Roy Daniel Budd (CRD#: 34635) is registered as a broker and investment adviser with Morgan Stanley, where he has been employed since 2009. Previously, Budd was registered as a broker and investment adviser with Citigroup Global Markets from 1980 to 2009.

Budd has two disclosures on his BrokerCheck report.

November 2021 Customer Dispute

Status: Pending

Allegations: Claimant alleges, inter alia, unsuitability with respect to concentrated investment in managed account – April, 2019.

Damage Amount Requested: $100,000.00

June 2001 Customer Dispute

Status: Settled

Allegations: Failure to supervise. Time period: May 2000 through December 2000.

Damage Amount Requested: $793,514.00

Settlement Amount: $420,000.00

Broker Comment: Salomon Smith Barney settled this matter. “The Branch Manager denies any and all allegations of failure to supervise.”

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