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Bruce Plyer: FINRA Bars Morristown Financial Advisor
A disciplinary action taken by the Financial Industry Regulatory Authority against former Morristown, New Jersey broker and investment advisor Bruce Plyer (CRD# 1666324) barred him after finding he failed to cooperate with an investigation into allegations of unauthorized trading. A former representative of International Assets Advisory and Morgan Stanley, Plyer was barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver and Consent (No. 2016052649001) dated October 2018, Bruce Plyer was employed with Morgan Stanley from 2009 until November 2016, when it terminated his employment as the result of allegations concerning his “execution of trades in clients’ accounts without authorization.” In September 2018, FINRA sent him a request for on-the-record testimony on October 11, 2018 concerning its investigation into these allegations. Plyer indicated to FINRA on October 1, 2018 that he was in receipt of the request but would not appear for the requested testimony “at any time.” FINRA found that this refusal constituted violations of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, Bruce Plyer was barred from associating with any FINRA member firm in any capacity.
Bruce Plyer’s disclosure records also list three settled customer complaints against him.
A 2011 complaint alleged that as a representative of Citigroup Global Markets, he engaged in unsuitable and excessive margin trading. The complaint reached a settlement of $600,000.
A 2008 complaint alleged that as a representative of Citigroup Global Markets, he misrepresented material facts regarding auction rate securities. The complaint reached a settlement of $99,000.
A 1999 complaint alleged that as a representative of Salomon Smith Barney, he acted negligently, breached his fiduciary duty, breached contract, executed unauthorized trades, violated suitability rules, and committed fraud. The complaint reached a settlement of $190,000.
Bruce Plyer is currently not registered as a broker or investment advisor. His employment history includes International Assets Advisory in Morristown, New Jersey; Morgan Stanley in Florham Park, New Jersey; Citigroup Global Markets in Florham Park, New Jersey; and Lehman Brothers in New York City. He currently holds zero state licenses and has passed five securities industry qualification examinations.