Welcome to Financial Advisor IQ

Ex-Morgan Stanley Rep Barred by Finra

By Alex Padalka September 15, 2017

Finra has barred a former Morgan Stanley advisor fired for failing to disclose a financial arrangement with a client who later became his wife, according to a letter of consent published by the regulator.

The reason for the bar wasn’t the relationship itself. Rather, Michael O’Connor’s refusal to attend a hearing on his termination led to the ban, Finra says.

Morgan Stanley had terminated O’Connor in January over concerns about the timing of the disclosure of his power-of-attorney status and his financial arrangement with the client he later married, according to BrokerCheck.

In July Finra sent O’Connor a request to appear for testimony about his dismissal, according to the settlement between him and the regulator. O’Connor replied to Finra’s counsel by email just two days after receiving the request, saying he would not appear at the on-the-record hearing, according to the settlement.


O’Connor, who had started his advice career at Morgan Stanley in 2010, doesn’t have any other disclosures and didn’t register with another firm after getting fired from the wirehouse, according to his BrokerCheck profile.