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FINRA Recommends Disciplinary Action Against Sharon Hayut

Sep 23, 2022 FINRA Investigation

Sharon Hayut (CRD #: 5552070), a broker formerly registered with Morgan Stanley, is under investigation by FINRA, according to her BrokerCheck record, accessed on September 19, 2022. Read on to learn more about her conduct as a broker.

FINRA Investigation

On August 17, 2022, FINRA issued a preliminary determination recommending that disciplinary action be brought against Sharon Hayut over allegations that she provided false information to FINRA and converted client funds, violating FINRA Rules 8210 and 2010.

FINRA Rules 8210 and 2010

FINRA Rule 8210 requires that brokers provide documents, information, and testimony to FINRA upon request.

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Resignation from Morgan Stanley Wealth Management

On December 17, 2021, Sharon Hayut resigned from Morgan Stanley Wealth Management following allegations that committed the following violations with respect to an elderly client:

  • Solicited gifts from the client for the benefit of herself and her children
  • Held fiduciary status with the client
  • Transferred securities among the client’s accounts without client authorization
  • Issued two checks from the client’s accounts for the benefit of her own children

Background Information

Sharon Hayut has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination

She previously worked for Morgan Stanley (CRD#:149777) and Citigroup Global Markets (CRD#:7059).

Kurta Law Can Help

If you worked with Sharon Hayut and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.