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.