Ronald Seth Cohen—Outside Business Activities with No Prior Notice

Ronald Seth Cohen Allegedly Engaged in Three Outside Business Activities Without Prior Notice to Morgan Stanley

Ronald Seth Cohen, from September 2011 through 2014, allegedly took part in three outside business activities without providing the proper prior notice to his member firm, Morgan Stanley, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).

Each of the three outside businesses was owned by a Morgan Stanley customer known only as JF, through his holding company, known only as JIH, according to the AWC.

Cohen reportedly helped JF establish a company known as GTR, a limited liability corporation located in New York City, specializing in fretted/string instruments, according to the AWC.

Ronald Seth Cohen Suspended and Fined $10,000 for His Alleged Outside Business Activity

In addition, Cohen also allegedly managed DPGC, a public golf course in New Jersey, and DFTC, a limited liability company located in New Jersey that reportedly acted as a wholesaler of high-end specialty rugs, art, and antique reproduction furniture, according to the AWC.

Dining the three year period in which Cohen actively managed these three businesses, he allegedly received approximately $466,200 in remuneration for his work, but allegedly never provided prior written notice to Morgan Stanley, the AWC reports.

As a result of the aforementioned behavior, Ronald Seth Cohen violated FINRA Rules, and has been fined $10,000 by FINRA and suspended from associating with any FINRA regulated broker dealer in any capacity, according to the AWC.

The Peiffer Wolf Securities Lawyers Protect Investors

The Peiffer Wolf securities lawyers often represent investors who lose money as a result of reps engaging in outside business activities. They take most cases of this type on a contingency fee basis, advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of firms failing to supervise reps who engage in outside business activities may contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.

Broker: Ronald Seth Cohen

Status: INVESTIGATED by Peiffer Wolf.

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Peiffer Wolf (1315 Posts)

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.