The Financial Industry Regulatory Authority barred an ex-Morgan Stanley and ex-RBC Capital Markets broker from association with any FINRA member in any capacity after he refused to provide testimony or cooperate in any other way with the regulator’s investigation into his terminations from his former firms, according to FINRA.
Without admitting or denying the findings, Boris Skorodumov signed a letter of acceptance, waiver and consent Feb. 20 in which he agreed to FINRA’s sanction. FINRA accepted the letter Tuesday.
Morgan Stanley declined to comment Wednesday. RBC and Scott M. Andersen of New York-based law firm Andersen, P.C., who represented Skorodumov in the dispute, did not immediately respond to requests for comment.
Skorodumov became registered with the regulator as a general securities representative through his association with Morgan Stanley on Oct. 23, 2015, according to the letter. He was with that firm until 2019. Morgan Stanley filed an amended Form U5 termination notice May 23, 2019, saying Skorodumov was “under review for removing confidential information and property, including intellectual property, from the firm,” according to the FINRA AWC letter.
Skorodumov joined RBC in April 2019 but, on June 21, that firm filed a Form U5 disclosing the respondent was terminated for cause as of June 10 for unspecified policy violations, according to FINRA.
On Oct. 30, 2019, FINRA staff sent him a request for on-the-record testimony, but he was granted an extension to provide it, the FINRA AWC letter said. On Dec. 19, he was sent a new request for testimony, but FINRA was informed Jan. 28 that he would neither appear to give testimony or cooperate with the regulator’s investigation in general, FINRA said.
Meanwhile, FINRA also barred Joseph Morris Thurnherr, a former broker at New York-based Wynston Hill Capital, after he too refused to cooperate with an investigation by the regulator.