Finra bars former Morgan Stanley rep who hid client gift

The Financial Industry Regulatory Authority Inc. has barred Martin Kirschner from the securities industry for failing to appear at a hearing looking into whether he failed to disclose a gift from a customer. Finra was also investigating whether Mr. Kirschner, while employed by Morgan Stanley in New York City, failed to disclose his co-power-of-attorney appointment in violation of Finra rules.

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Mr. Kirschner was discharged by Morgan Stanley last June over allegations that he “failed to disclose and/or obtain approval related to both a monetary gift he received from a client and accepting appointments to fiduciary capacities for the same client outside the firm,” according to his Finra BrokerCheck record.

Mr. Kirschner joined Morgan Stanley in 2008 after 19 years at Bear Stearns. He began his securities career in 1985 and spent four years at two small firms before joining Bear Stearns in 1989.

Related Topics: Financial Industry Regulatory Authority, Morgan Stanley & Co.