The Financial Industry Regulatory Authority has barred a former Morgan Stanley rep for failing to produce information and documents related to recommending restricted investments not approved by the firm, as well as using his personal device to engage in unauthorized disclosure of confidential, internal firm information.
According to FINRA's order, Eric Brian Kleiner was registered with FINRA as a general securities rep through an association with Morgan Stanley Smith Barney from September 2016 until April 2, 2025, when the firm filed a Form U5 stating that he had been discharged from the firm over “[c]oncerns related to recommending to customers non-firm approved and firm restricted investments, including ones in which Mr. Kleiner was also invested, failure to fully disclose outside investment, and use of personal device to engage in unauthorized disclosure of confidential, internal use only Firm information.”
On July 22 and Aug. 6, FINRA sent a request to Kleiner to produce information and documents pursuant to FINRA Rule 8210.
"As stated during counsel’s phone call with FINRA on Aug. 14, 2025, and by this agreement, Kleiner acknowledges that he received FINRA’s request and will not produce the information or documents requested," FINRA's order states.
Without admitting or denying the findings, Kleiner consented to the sanction and to the entry of FINRA's findings, according to his BrokerCheck profile.
Kleiner's BrokerCheck record shows that he has six pending customer disputes related to recommending outside investment or investment strategies not authorized by Morgan Stanley.
Kleiner was also ordered to pay $90,000 in 2009 while employed by Wells Fargo Advisors for fraud and unsuitable investments, according to BrokerCheck.
Kleiner violated FINRA Rules 8210 and 2010 and is barred from associating with any FINRA member in all capacities.
He started his career at Prudential Securities, where he worked from 2000 to 2003, and then moved to Wells Fargo Advisors. He was employed by WFA for 13 years and left in 2016 to join Morgan Stanley.
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