Michael Carter: FINRA Bars McLean, Virginia Financial Advisor
A disciplinary action taken by the Financial Industry Regulatory Authority against former McLean, Virginia broker and investment advisor Michael Carter (CRD# 3232017) barred him after finding he failed to provide information connected with its investigation into misconduct allegations against him. A former representative of Morgan Stanley, Carter 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. 2019063523501) dated September 2019, Michael Carter was registered with Morgan Stanley as a General Securities Representative from December 2011 until August 2019, when the firm disclosed his termination following allegations he misappropriated customer funds. FINRA states that it received an “external tip” that led to it initiating an investigation concerning these allegations on August 5, 2019. Accordingly, it sent Carter a request on August 9, 2019 to provide documents and information concerning the allegations. After Carter “did not respond to the request by the stated deadline,” FINRA sent a second request on August 20, 2019. One week later, on August 27, 2019, Carter indicated to FINRA via counsel that he would not provide FINRA the documents and information it requested. FINRA’s findings state that this refusal constituted violations of FINRA Rules 8210 and 2010. For context, FINRA Rule 8210 states that FINRA may require persons under its jurisdiction to provide information related to matters under its investigation, and that no such person shall fail to do so; FINRA Rule 2010, meanwhile, states that members must “observe high standards of trade and just and equitable principles of trade.” As a result of the foregoing alleged conduct, Michael Carter was barred from association with any FINRA member firm in any capacity.
Michael Carter’s disclosure records also list one employment separation: specifically, his 2019 termination from Morgan Stanley over allegations he misappropriated customer funds.
Michael Carter is currently not registered as a broker or investment advisor. His employment history includes Morgan Stanley in McLean, Virginia; Ameriprise Financial Services in Vienna, Virginia; Morgan Stanley Smith Barney in Vienna, Virginia; Morgan Stanley & Company in Vienna, Virginia; Morgan Stanley DW in Vienna, Virginia; Merrill Lynch in Vienna, Virginia; Financial Network Investment Corporation in El Segundo, California; and Dean Witter Reynolds in Purchase, New York. He currently holds zero state licenses and has passed five securities industry qualification examinations.