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Two joint stock bankers lose Morgan Stanley brokerage license -regulatory agency By Reuters



© Reuters. FILE PHOTO: The corporate logo of financial firm Morgan Stanley is pictured on a building in San Diego, California September 24, 2013. REUTERS / Mike Blake

By Saeed Azhar and Chris Prentice

NEW YORK (Reuters) – Hai Morgan Stanley (NYSE:) equity syndicated bankers, Pawan Passi and Charles Leisure, are no longer listed as registered brokers at the Wall Street firm, according to industry regulator FINRA’s website.

Passi, the bank’s chief executive officer, has been unregistered as a broker with the Financial Industry Regulatory Authority (FINRA) since December 16. His FINRA filing includes a disclosure of controversy. pending client allegation of “misrepresentation regarding transaction blocking” in 2021.

Brokerage registration for Leisure, an executive, also ended on December 16, his FINRA filings show.

Arnaud Blanchard became head of equity syndication in New York earlier this year, according to his LinkedIn profile. He succeeded Passi.

Bloomberg previously reported that the two had left the company, adding that Passi was put on leave last year, followed by Leisure this year.

Morgan Stanley declined to comment.

Emails sent to Passi and Leisure’s work addresses indicate they are out of the office and will not consider incoming email communications. The emails ask the sender to contact others on the information desk for assistance. Unable to contact Passi by phone. Entertainment did not respond to a phone call, text message and LinkedIn message seeking comment.

Morgan Stanley in February revealed that US regulators and prosecutors were probing various aspects of the investment bank’s block trading business. It does not specify which group or groups are under investigation.

Dealer-brokers regularly buy and sell blocks of stock, either on behalf of clients or as part of a hedging strategy, large enough to move a company’s stock price.



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