Australian Regulator Bans Former Wealth Manager Permanently
The Australian Securities and Investments Commission (ASIC) has permanently banned Andrew Peter Panayiotides previously from Morgan Stanley Wealth Management from providing financial services.
“He failed to act in the best interests of clients and provided inappropriate advice in relation to exchange traded option.”
He failed to act in the best interests of clients and provided inappropriate advice in relation to exchange traded options. This resulted in each client to be significantly exposed to short cash covered ETO positions.
News Source: ASIC Press Release
About Morgan Stanley
Morgan Stanley was founded in 1935, with the commitment to community as its guiding principle. Through its subsidiaries and affiliates, advises and originates, the bank trades, manages and distributes capital for governments, institutions and individuals. Its segments include Institutional Securities, Wealth Management and Investment Management. Through its subsidiaries and affiliates, the Company provides a range of products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals.
- Origin : New York, USA
- Assets : $ 602.71 billion
- Revenue : $ 35.16 billion
- Employees : 55,000
Official Website: www.morganstanley.com
News & Media: Press Release
Updated on 8th August 2016