Did Paul Ganun, Morgan Stanley Advisor, Misrepresent Investments?

Red Bank, New Jersey financial advisor Paul Ganun (CRD# 2358305) allegedly provided misleading information to his client, according to a recent investor complaint. Records maintained by the Financial Industry Regulatory Authority show that Mr. Ganun is a broker and an investment advisor with Morgan Stanley. 

Mr. Ganun’s BrokerCheck report discloses one recent investor complaint. Filed in November 2022, it alleges that as a representative of Morgan Stanley, he misrepresented material facts relating to hedge fund investments in 2021. The pending complaint alleges unspecified damages. 

A second disclosure on Mr. Ganun’s BrokerCheck report describes a 2009 FINRA enforcement action against him. According to the disclosure, FINRA sanctioned him in connection with allegations he “drafted and distributed one piece of misleading sales literature to customers,” and that he enclosed an account change application form with the literature. As FINRA’s findings explain, the form’s completion and return would represent the customer’s agreement to move their account to Mr. Ganun’s new firm, but the letter “contained a statement indicating the enclosed application was paperwork to update the customer’s account.” FINRA found that this statement was “unwarranted or misleading” because the form “would not update the customer’s account but actually change the member firm servicing the account.” In connection with these findings, Mr. Osland was censured and ordered to pay a fine of $7,500.

According to the Financial Industry Regulatory Authority, Paul Ganun holds 28 years of securities industry experience. Based in Red Bank, New Jersey, he has been a broker and an investment advisor with Morgan Stanley since 2009. His past registrations include Oppenheimer & Company, CIBC World Markets Corporation, Merrill Lynch, Waterhouse Securities, Thomas James Associates, Hibbard Brown & Company, and Westfield Financial Corporation. Having passed seven securities industry qualifying exams, he currently holds 23 state licenses. (Information current as of December 17, 2022.)

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