FINRA Censures, Fines Douglas Evan Greenberg (Lake Oswego, Oregon) for Unauthorized Trades

Douglas Evan Greenberg (CRD #2298830, Registered Representative, Lake Oswego, Oregon) submitted a Letter of Acceptance, Waiver and Consent in which he was censured and fined $10,000. See FINRA Case #2011027368802. Greenberg is registered with Morgan Stanley.

Without admitting or denying the findings, Greenberg consented to the described sanctions and to the entry of findings that a customer opened accounts at his member firm with Greenberg assigned as the registered representative for each. The findings stated that on two separate occasions, pursuant to a strategy that was previously discussed with, and agreed to by the customer, Greenberg exercised discretionary power to effect, or caused to be effected, purchases and sales of securities in one of the customer’s accounts. The findings also stated that Greenberg did not have the customer’s written authorization to place discretionary trades, and failed to obtain the firm’s written acceptance of the account as discretionary.

If you were a client of Greenberg or Morgan Stanley, and suffered investment losses, please call Sonn Law Group at 844-689-5754 or complete our “contact form.” Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies.