Morgan Stanley Discharges and FINRA Permanently Bars Broker Samuel Wylie Sloane

Broker accused of taking $1.8M in trust assets while serving as a trustee.

Samuel Wylie Sloane’s 15-year career in the securities industry ended abruptly in December 2015 when FINRA permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public.

According to the disciplinary action document in Sloane’s FINRA BrokerCheck record, the broker refused to respond to FINRA’s request for documents and information during an investigation. The investigation was initiated following allegations that Sloane converted a customer’s trust assets while serving as a trustee.

In October 2015, a customer dispute was filed against Sloane stating “Attorney alleges on behalf of beneficiary of a trust that the FA, while serving as trustee, took assets from a trust, through withdrawals and fees. Time period described in the letter is 2004 to 2014.” The damage amount requested is $1.8M.

Shortly after the customer dispute was filed, Sloane’s employer, Morgan Stanley, discharged Sloane from its employ.

If you invested with Samuel Wylie Sloane and believe you have suffered financial loss as a result of his involvement or actions, it is important for you to know your rights. You may potentially recover financial losses through securities arbitration. An experienced securities arbitration attorney with a proven track record of successfully recovering money for his or her clients may be able to help help you pursue your clams through securities arbitration.

Silver Law Group’s team of securities arbitration attorneys stands ready to help you understand your rights and represent your interests. Contact us today to schedule a complimentary consultation and rest assured knowing that there will be no fee unless we successfully litigate your claim.