Ryan Caldwell: Why Did Morgan Stanley Fire AIML Trading Advisor?

Cold Spring Harbor, New York financial advisor Ryan Caldwell (CRD# 6642132) recently received an investor complaint alleging that he executed unauthorized trades. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Morgan Stanley broker is registered as an investment advisor with AIML Trading Partners.

Mr. Caldwell’s BrokerCheck report discloses one investor complaint. Filed in August 2024, it alleges that as a representative of Morgan Stanley, he made unauthorized options trades in the customer’s account. The pending complaint alleges unspecified damages.

A second disclosure on his BrokerCheck report concerns his firing from Morgan Stanley. Filed in 2023, it states that the firm terminated him in connection with allegations that he “used an unapproved third-party communication application to send written communications to a client about a private securities transaction, and sent unsecured emails to communicate client information.”

For reference, unauthorized trading may violate FINRA Rule 3260, which outlines specific conditions in which advisors like Mr. Caldwell can make transactions without first consulting their client. Such conduct may also violate FINRA Rule 2010, which stipulates that FINRA-associated persons must “observe high standards of commercial honor and just and equitable principles of trade.” Registered representatives who participate in unauthorized trading may be held liable for damages and/or subject to disciplinary action.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Ryan Caldwell holds five years of securities industry experience. Based in Cold Spring Harbor, New York, he has been registered as an investment advisor with AIML Trading Partners since June 2024. He was previously registered with Morgan Stanley in New York, New York from 2017 until 2023. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66. He is licensed in New York. (Information current as of September 7, 2024.)

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