Securities Arbitration Lawyers BlogFINRA Bars Broker Scott Donato
Scott J. Donato (CRD#: 2336331) is a former registered broker and investment advisor who was last employed with Morgan Stanley (CRD#:149777) of Miami, FL, until 2017. He previously worked for two different Morgan Stanley companies, (CRD#: 8209 and 7556) since 1993. No current employment information is available.
Scott Donato is the subject of 10 disclosures dating back to 2001. The most recent, on 12/11/2018, is a FINRA regulatory action in which he failed to respond to a request for information from FINRA. He was notified by letter of his suspension on 3/14/2019, and failed to request a termination of his suspension by the three month deadline. FINRA barred Donato indefinitely in all capacities effective 3/14/2019.
Previous disclosures include customer disputes. The latest was filed on 11/8/20107, alleging unsuitable investments and other things (“inter alia”) between 2010 and 2017. This client requested damages of $2,000,000, and the case was settled for $150,000.
The next dispute was filed on 3/16/2017, with a similarly worded complaint for investments between 2010 and 2013. In this case, the client requested damages of $5,000,000, and the case was settled for $995,000.00. No additional information is available in either dispute.
A customer dispute filed on 6/3/2014, also similarly worded, with the unsuitable investments made between October 2012 through January 2013. The client’s requested damages were $250,000, and the case settled for $350,000 by Morgan Stanley to avoid the expense and uncertainty of litigation.
Three previous disputes were denied.
Did You Invest With Scott Donato?
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