James Speno: Sanctioned by FINRA

James SpenoPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on January 26, 2017 indicate that former New York-based Morgan Stanley broker/adviser James Speno has been suspended by FINRA and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Speno (CRD# 431912).

James Speno has spent 45 years in the securities industry and was most recently registered with Morgan Stanley in New York, New York (2013-2015). Previous registrations include Oppenheimer & Company in New York, New York; RBC Capital Markets in New York, New York; Salomon Smith Barney in New York, New York; Lehman Brothers in New York, New York; Merrill Lynch; Sussex Securities; and Lehman Brothers Kuhn Loeb. He is currently not registered with any state or firm.

According to his BrokerCheck report, James Speno has been sanctioned by FINRA and was terminated from Morgan Stanley in connection to alleged rule violations.

In January 2017 FINRA sanctioned James Speno following allegations he “exercised discretionary power in customer accounts belonging to several customer households by effecting approximately 1,000 transactions, without obtaining prior written authorization from the customers.” FINRA also found that, allegedly, “in certain circumstances, Speno’s member firm allowed the use of discretion with prior approval by the firm and the client; however, Speno failed to obtain such approval.” He was issued a 30-day suspension and a fine of $5,000.

In March 2015 James Speno was terminated from his position at Morgan Stanley following allegations of “concerns regarding [his] handling of certain client account, including exercise of discretion and trading volume.”

If you or someone you know has lost money investing with James Speno, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.