A former-Morgan Stanley advisor owes the firm nearly $108,000, a regulatory arbitration panel has ruled. Morgan Stanley had alleged a failure to pay a promissory note and asked for the amount plus interest.

The Financial Industry Regulatory Authority handled the dispute, which involves issues that began in December 2008, via arbitration in Charlotte, N.C.

The arbitrator ruled on Oct. 12 that the Alexander Clark Jones had been served with the claim notification letter and overdue notices this spring and summer. He also was notified of the arbitration and the requirement to use an online dispute resolution portal, which he did not register on, according to the case.

The arbitrator found Jones liable for $97,451 in compensatory damages and accrued interest, along with $10,345  in attorneys’ fees and $1,000 for filing expenses.

“We are pleased that the arbitrator decided the matter in Morgan Stanley’s favor,” a spokeswoman for Morgan Stanley told ThinkAdvisor.

Jones is no longer an advisor, according to his FINRA BrokerCheck record. He started in the business in Willmington, N.C., at Wachovia in 2001, moved to Morgan Stanley in late 2008 and was with the firm until early 2017. He then affiliated with LPL Financial from November 2017 to January 2018.

Attempts to reach the respondent by press time were unsuccessful.