91视频下载链接

Former Morgan Stanley Advisor Banned for Profit-Sharing Scheme and Policy Violations

Posted on June 12th, 2025 at 3:41 PM
Former Morgan Stanley Advisor Banned for Profit-Sharing Scheme and Policy Violations

From the desk of Jim Eccleston at 91视频下载链接

Joseph A. Eisler has agreed to a permanent ban from the brokerage industry, according to a recent settlement with the Financial Industry Regulatory Authority (“FINRA”).

The FINRA Acceptance, Waiver and Consent (“AWC”) detailed that Eisler, formerly with Morgan Stanley in New York, improperly allocated new issue shares to a customer more than 100 times. AdvisorHub reports that he allegedly received a portion of the profits from those sales - a clear violation of FINRA rules prohibiting such arrangements.

Additionally, the investigation revealed that from 2014 to 2022, the same customer paid Eisler over $120,000 in excessive fees on unrelated transactions. AdvisorHub reports that Eisler compounded his misconduct by using his personal phone to send hundreds of business-related messages, sidestepping firm policies on approved communication platforms.

Morgan Stanley initiated its internal review after filing a December 2022 termination notice with FINRA, noting Eisler’s voluntary resignation while on administrative leave. The firm cited allegations of unauthorized profit-sharing and the use of unapproved messaging applications to discuss confidential client trading activity.

Under FINRA Rule 5131, brokers may not offer or threaten to withhold allocations of new issue shares as inducement for compensation deemed excessive relative to services provided. Morgan Stanley, for its part, strictly prohibited brokers from sharing directly or indirectly in customer profits or entering any agreements involving new issue allocations.

By agreeing to the settlement, Eisler neither admitted nor denied FINRA’s findings but accepted the industry bar as part of the resolution.

 

91视频下载链接 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

Hiring 91视频下载链接 has been one of the best career decisions I have made and this "investment" to maintain my sterling regulatory record has been returned many times over.  If you are in a situation where you've been unfairly accused, don't hesitate to talk with 91视频下载链接. They are the best.

Thomas C.

LATEST NEWS AND ARTICLES

June 17, 2025
FINRA Sanctions Former Advisor for Unsuitable Variable Annuity Exchanges

The Financial Industry Regulatory Authority (FINRA) has fined and suspended former broker Thomas Vigil for making unsuitable variable annuity recommendations that resulted in customers paying higher fees.

June 16, 2025
GPB Capital Executives Sentenced for Fraud in Private Placement Scheme

Two former top executives at GPB Capital Holdings received prison sentences for their roles in a years-long investment fraud scheme.

June 13, 2025
New York Tax Preparer Charged in $50 Million Ponzi Scheme

New York’s Attorney General announced the arrest of Miles Burton Marshall, an upstate New York tax preparer and insurance agent accused of orchestrating a decades-long Ponzi scheme that defrauded nearly 1,000 investors out of more than $50 million.