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

Ä¢¹½´«Ã½

Former Florida-Based Morgan Stanley Advisor Accepts Industry Ban Amid Fraud Probe

Posted on October 12th, 2023 at 2:18 PM
Former Florida-Based Morgan Stanley Advisor Accepts Industry Ban Amid Fraud Probe

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

A former Morgan Stanley advisor in Fort Lauderdale, Florida, with 23 years of experience, opted for an industry ban instead of cooperating with a Financial Industry Regulatory Authority (FINRA) investigation.

The investigation stemmed from a termination notice issued to Ron Filoramo, whom Morgan Stanley terminated in May after working 12 years at the firm. The termination was linked to allegations that he fraudulently convinced clients to transfer funds to supposed investments that never were made, according to AdvisorHub.

According to the settlement, known as an Acceptance Waiver and Consent (“AWC”), Filoramo failed to cooperate with the regulator. Under FINRA rules, failure to cooperate with information requests can lead to an industry ban. However, neither FINRA's settlement nor Filoramo's BrokerCheck record offers further details regarding the fraud allegations.

 

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 cannot thank you enough for your efforts. You have proven to be a valuable resource.

Jim T.

LATEST NEWS AND ARTICLES

1787070589 Law
August 18, 2026
Senior Protection Case Study: Edward Jones and Senior Investor Safeguards

A recent incident involving Edward Jones illustrates how challenging it may be to employ safeguards for protecting older clients from financial exploitation.

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.