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Did Constantinos George Maniatis Cause You Investment Losses?

Constantinos George Maniatis of Carrollton, Texas submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of 30 days. The sanctions were based on findings that he allegedly exercised discretionary trading without authorization in violation of NASD Rule 2510(b), FINRA Rule 2010 and MSRB Rule G-17. The suspension was in effect from May 3, 2021, through June 1, 2021.

On June 1, 2009, Constantinos George Maniatis joined Morgan Stanley and became registered as a General Securities Representative. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) disclosing that Maniatis had been terminated due to alleged misconduct. According to FINRA’s findings, Maniatis allegedly exercised discretionary trading in seven customers’ accounts on 105 separate occasions, thirteen of which involved municipal securities. The findings state that although Morgan Stanley and the customers had previously authorized discretionary trading in their accounts, they no longer accepted the accounts as discretionary and did not permit the exercise of discretion during the relevant period. Although Constantinos George Maniatis is no longer registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction.

NASD Rule 2510(b) prohibits registered representatives from “exercising any discretionary power in a customer’s account” unless the customer has provided prior written authorization to the representative and the account has been accepted as a discretionary account, in writing, by the representative’s member firm. A violation of NASD Rule 2510(b) is also a violation of FINRA Rule 2010, to “observe high standards of commercial honor and just and equitable principles of trade.”

MSRB Rule G-17 generally requires each broker or dealer in municipal securities and their registered representatives to deal fairly with customers. Exercising discretion in customer accounts after one member’s firm has withdrawn such authorization is a violation of MSRB Rule G-17.

Do You Need a Texas FINRA Securities Arbitration Attorney?

Are you a Texas investor who has suffered significant losses in your stock brokerage and investment accounts?  Did your Texas stockbroker or investment advisor misrepresent facts, fail to disclose facts making the statements made false and misleading, recommend unsuitable investments or strategies, excessively trade or churn, mismanage your investment account or engage in other kinds of stockbroker misconduct? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration attorney—a lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. 

Free Initial Consultation With Experienced FINRA Securities Arbitration Attorneys Serving Carrollton, Texas Residents In FINRA Arbitration Proceedings

At The Law Offices of Robert Wayne Pearce, P.A.  we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Texas, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award.

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For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $140 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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