Tr?id=566623520170033&ev=PageView&noscript=1

Ä¢¹½´«Ã½

Former Advisor Awarded $147,000 in Morgan Stanley Dispute Over Congressional Run

Posted on April 3rd, 2024 at 3:18 PM
Former Advisor Awarded $147,000 in Morgan Stanley Dispute Over Congressional Run

From the desk of Jim Eccleston at Ä¢¹½´«Ã½ 

In a recent arbitration decision, FINRA ordered Morgan Stanley to pay $147,000 in damages to Deborah Adeimy, a former advisor from Florida. Adeimy accused the
wirehouse of improperly denying her permission to run for a congressional seat in 2022. Adeimy nonetheless ran for office but ultimately lost the Republican primary for the House seat in Florida's 22nd District.

As reported by AdvisorHub, Adeimy argued that Morgan Stanley had violated its employment contracts and had engaged in tortious interference, constructive discharge, and inequitable treatment. She even sought approval for her campaign as an outside business activity. In response, she alleged that the firm effectively forced her out by reassigning her clients instead of granting her a temporary leave under its policies.

According to AdvisorHub, firms have broad discretion in approving advisors' outside businesses, and political roles like running for office are closely scrutinized due to potential conflicts of interest and to ensure that candidates' views do not reflect adversely on the firm.

The award, nonetheless, is a small victory for Adeimy.

 

Ä¢¹½´«Ã½ LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I am so glad I found you! Wow! I appreciate your help, concern and guidance.

RB

LATEST NEWS AND ARTICLES

1786980584 Law
August 17, 2026
Federal Judge Allows Investor Class Action Over Lightstone REIT Disclosures to Proceed

A federal judge has allowed investors to proceed with a class-action lawsuit alleging that directors and advisors of three Lightstone Value Plus REITs failed to disclose a significant conflict of interest before shareholders voted on amendments extending the funds' operating periods.

1786734880 Law
August 14, 2026
Cash Sweep Litigation Continues to Drive Legal Costs

Cash sweep litigation continues to increase legal costs for wealth management firms despite the Securities and Exchange Commission's (SEC) decision under the Trump administration to close pending investigations without imposing enforcement penalties, according to AdvisorHub.

1786636784 Law
August 13, 2026
FINRA Orders Centaurus Financial to Pay $1.1 Million Over Variable Annuity Supervision Failures

The Financial Industry Regulatory Authority (FINRA) has ordered Centaurus Financial Inc.