Scott Gunnip: FINRA Bars Southlake, Texas Financial Advisor
A disciplinary action taken by the Financial Industry Regulatory Authority against former Southlake, Texas broker and investment advisor Scott Gunnip (CRD# 3250539) barred him after finding he failed to appear for testimony connected with its investigation into alleged unsuitable trading. A former representative of Morgan Stanley, Gunnip 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. 2017055476201) dated September 2019, Scott Gunnip was registered with Morgan Stanley from 1996 until February 2018, when he resigned during the course of an “internal inquiry into certain transactions he executed for clients.” That same year, FINRA initiated an investigation into allegations Gunnip participated in “unsuitable short-term trading of long-term securities.” As part of this investigation, FINRA sent him a request on September 3, 2019 to provide on-the-record testimony before FINRA. Gunnip indicated to FINRA via counsel on September 9, 2019 that he would not appear “at any time” for the requested testimony. FINRA found this refusal to constitute a violation of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from associating with any FINRA member in any capacity.
Scott Gunnip’s disclosure records also list three customer complaints against him that reached settlements.
A 2017 complaint alleged that as a representative of Morgan Stanley Smith Barney, he engaged in excessive trading from 2010 until 2014. The complaint reached a settlement in 2018 of $614,000.
A 2017 complaint alleged that as a representative of Morgan Stanley Smith Barney, he engaged in unsuitable trading and recommended unsuitable investments. The complaint reached a settlement of $145,000.
A 2016 complaint alleged that as a representative of Morgan Stanley Smith Barney, he recommended unsuitable equity products. The complaint reached a settlement of $150,000.
Scott Gunnip is currently not registered as a broker or investment advisor. His employment history includes Morgan Stanley in Southlake, Texas; Morgan Stanley & Company in Fort Worth, Texas; and Morgan Stanley DW in Fort Worth, Texas. He currently holds zero state licenses and has passed five securities industry qualification examinations.