Susan Springsteen Accused of Participating in $355,000 Securities Sale Without Proper Notification
Susan Lynn Springsteen, of Morgan Stanley in Bryn Mawr, Pennsylvania, participated in private securities transactions, and failed to disclose outside business activities to her firm, a FINRA Letter of Acceptance, Waiver and Consent (AWC) alleges. In June 2011, while Springsteen was associated with Morgan Stanley and working as a Registered Marketing Advisor for nth-Solutions LLC, a development-stage company of which she had been a founding investor in 2006, she started offering subordinated notes to investors, the AWC alleges.
Springsteen was involved in the sale of$355,000 worth of nth-Solutions LLC notes to six investors, and the aforementioned notes had not been offered through Morgan Stanley, and Springsteen did not provide prior written notification to Morgan Stanley, the AWC reports. Therefore, Springsteen violated NASD and FINRA Rules, and will be suspended for four months and have to pay a $5,000 fine, the AWC alleges.
Springsteen Has Checkered Past, Regulatory Reports Indicate
Springsteen first entered the securities industry on June 1, 1982, and her Broker Check report reveals at least seven customer disputes, the AWC reports. From September 2003 to November 2012, Springsteen reportedly worked for Morgan Stanley Smith Barney its predecessor firms, and is currently is not associated with any FINRA member following her voluntary termination from Morgan Stanley in October 2012.
Investment Fraud Lawyers Investigating
The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.
Broker: Susan Lynn Springsteen
Status: INVESTIGATED by Peiffer Rosca.
For brokercheck report and additional info click here!