Jason Wolter: FINRA Suspends Morgan Stanley Advisor

Greenwich, Connecticut financial advisor Jason Wolter (CRD# 2934037) was recently suspended in connection with allegations of unauthorized trading. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Morgan Stanley, having previously been registered with JP Morgan Securities.

A Letter of Acceptance, Waiver, and Consent (No. 2019064430601) issued in March 2024 describes FINRA’s disciplinary action against Mr. Wolter. As it explains, he “exercised discretion without written authorization in more than 210 transactions in the accounts of two customers” between October 2015 and February 2019. In one case, FINRA states, the customer orally instructed him to communicate with his son, who had power of attorney over the customer’s accounts, but Mr. Wolter “did not obtain a copy” of the power of attorney, inform JP Morgan about it, or amend the customer’s account information to reflect it. In another case, FINRA states, he received the customer’s implied authorization to exercise discretion, but not the customer’s written authorization nor the firm’s approval of the accounts as discretionary. FINRA found that his conduct violates NASD Rule 2510 and FINRA Rule 2010, issuing him a 10-day suspension from associating with any FINRA member as well as a fine of $5,000.

Mr. Wolter’s BrokerCheck report discloses one investor complaint. Filed in 2019, it alleged that as a representative of Morgan Stanley, he made unauthorized trades involving municipal bond, mutual fund, structured product, and exchange-traded fund investments. In August 2023 the complaint reached a settlement of $260,000.

According to the Financial Industry Regulatory Authority, Jason Wolter holds 26 years of securities industry experience. Based in Greenwich, Connecticut, he has been a broker and an investment advisor with Morgan Stanley since 2019. His past registrations include JP Morgan Securities (White Plains, New York; 2015-2019), Deutsche Bank Securities (Greenwich, Connecticut; 2009-2015), UBS Financial Services (Stamford, Connecticut; 2005-2009), and Merrill Lynch (New York, New York; 1998-2005). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Connecticut, Florida, Idaho, Kansas, Massachusetts, Nevada, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, and South Carolina. (Information current as of March 26, 2024.)

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