Broker Alert: Raymond Keith Malicki Barred by FINRA

Broker Alert: Raymond Keith Malicki Barred by FINRAIndustry regulator FINRA has barred broker Keith Malicki from acting as a broker or associating with any broker-dealer firms. The broker refused to appear for a hearing about his departure from Morgan Stanley.

In July of 2017, Stanley called for Malicki to resign, on the heels of allegations he had accessed and made transactions in a client account at an outside financial institution. He later refused FINRA’s request to testify about this resignation.

The following August, the broker moved to Oppenheimer & Co., where for the time being, he is still employed. The same month, Oppenheimer amended the broker’s record. This disclosed the allegations of misconduct when he was with Stanley.

When FINRA requested he appear to testify about the allegations in the amendment, Maliki refused to comply. In a letter of consent, the broker agreed to the FINRA bar but did not admit or deny their findings.

Since his start in the financial industry, there are three other customer complaints as far back as 1989. He reached a settlement in two cases and the broker denied the allegations of the third complaint.

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Source: Financial Advisor IQ, FINRA BrokerCheck

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