ALBERT DISHNER - files.brokercheck.finra.org › individual › individual_1912362.pdf · Registration and Employment History Registration History Registration Dates Firm Name CRD#

BrokerCheck Report

ALBERT DISHNER

Section Title

Report Summary

Broker Qualifications

Registration and Employment History

Disclosure Events

CRD# 1912362

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2 - 5

7

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Page(s)

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About BrokerCheck®

BrokerCheck offers information on all current, and many former, registered securities brokers, and all current and formerregistered securities firms. FINRA strongly encourages investors to use BrokerCheck to check the background ofsecurities brokers and brokerage firms before deciding to conduct, or continue to conduct, business with them.

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qualifications, disciplinary actions, criminal convictions, civil judgments and arbitration awards. BrokerCheckreports for brokerage firms include information on a firm’s profile, history, and operations, as well as many of thesame disclosure events mentioned above.

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CRD® and is a combination of: o information FINRA and/or the Securities and Exchange Commission (SEC) require brokers and

brokerage firms to submit as part of the registration and licensing process, and o information that regulators report regarding disciplinary actions or allegations against firms or brokers.

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ALBERT DISHNER

CRD# 1912362

Currently employed by and registered with thefollowing Firm(s):

MORGAN STANLEY1290 AVENUE OF THE AMERICASNEW YORK, NY 10104CRD# 149777Registered with this firm since: 07/28/2015

IA

MORGAN STANLEY1290 AVENUE OF THE AMERICASNEW YORK, NY 10104CRD# 149777Registered with this firm since: 07/28/2015

B

Report Summary for this Broker

This report summary provides an overview of the broker's professional background and conduct. Additionalinformation can be found in the detailed report.

Disclosure Events

All individuals registered to sell securities or provideinvestment advice are required to disclose customercomplaints and arbitrations, regulatory actions,employment terminations, bankruptcy filings, andcriminal or civil judicial proceedings.

Are there events disclosed about this broker? Yes

The following types of disclosures have beenreported:

Type Count

Regulatory Event 1

Customer Dispute 4


This broker is registered with:

4 Self-Regulatory Organizations

41 U.S. states and territories

This broker has passed:

0 Principal/Supervisory Exams

3 General Industry/Product Exams

2 State Securities Law Exams

Registration History

This broker was previously registered with thefollowing securities firm(s):

CREDIT SUISSE SECURITIES (USA) LLCCRD# 816NEW YORK, NY10/2008 - 08/2015

IA

CREDIT SUISSE SECURITIES (USA) LLCCRD# 816NEW YORK, NY08/2005 - 08/2015

B

MORGAN STANLEY DW INC.CRD# 7556PURCHASE, NY07/1997 - 08/2005

B

www.finra.org/brokercheck User Guidance

1�2020 FINRA. All rights reserved. Report about ALBERT DISHNER.


http://www.finra.org/brokercheck

http://www.finra.org/brokercheck_reports



Registrations

This section provides the self-regulatory organizations (SROs) and U.S. states/territories the broker is currently registered and licensed with, thecategory of each license, and the date on which it became effective. This section also provides, for every brokerage firm with which the broker iscurrently employed, the address of each branch where the broker works.

This individual is currently registered with 4 SROs and is licensed in 41 U.S. states and territories through his or her employer.

The individual has 1 inactive or suspended registration.

For an explanation on inactive and suspended registrations, click here.

Employment 1 of 1Firm Name:

Main Office Address:

Firm CRD#:

MORGAN STANLEY

149777

2000 WESTCHESTER AVENUEPURCHASE, NY 10577-2530

SRO Category Status Date

B FINRA General Securities Representative SUSPENDED 07/20/2020

B NYSE American LLC General Securities Representative APPROVED 07/28/2015

B Nasdaq Stock Market General Securities Representative APPROVED 07/28/2015

B New York Stock Exchange General Securities Representative APPROVED 07/28/2015

BU.S. State/ Territory Category Status Date

B Alabama Agent APPROVED 07/28/2015

B Alaska Agent APPROVED 07/30/2015

B Arizona Agent APPROVED 09/23/2015

B California Agent APPROVED 07/28/2015

B Colorado Agent APPROVED 07/28/2015

B Connecticut Agent APPROVED 08/18/2015

B District of Columbia Agent APPROVED 09/24/2015

B Florida Agent APPROVED 07/28/2015





http://www.finra.org/brokercheck_glossary



Employment 1 of 1, continued


B Georgia Agent APPROVED 08/10/2015

B Idaho Agent APPROVED 07/28/2015

B Illinois Agent APPROVED 09/24/2015

B Indiana Agent APPROVED 08/26/2015

B Iowa Agent APPROVED 09/21/2015

B Kansas Agent APPROVED 07/28/2015

B Kentucky Agent APPROVED 07/28/2015

B Louisiana Agent APPROVED 07/28/2015

B Maryland Agent APPROVED 07/28/2015

B Michigan Agent APPROVED 07/28/2015

B Minnesota Agent APPROVED 09/04/2015

B Mississippi Agent APPROVED 07/28/2015

B Nebraska Agent APPROVED 07/28/2015

B Nevada Agent APPROVED 09/03/2015

B New Jersey Agent APPROVED 07/28/2015

IA New Jersey Investment Adviser Representative APPROVED 07/28/2015

B New Mexico Agent APPROVED 01/07/2016

B New York Agent APPROVED 07/28/2015

B North Carolina Agent APPROVED 07/28/2015

B Ohio Agent APPROVED 07/28/2015

B Oklahoma Agent APPROVED 09/24/2015







Employment 1 of 1, continued


B Oregon Agent APPROVED 07/28/2015

B Pennsylvania Agent APPROVED 07/28/2015

B Puerto Rico Agent APPROVED 07/28/2015

B Rhode Island Agent APPROVED 07/28/2015

B South Carolina Agent APPROVED 10/15/2015

B South Dakota Agent APPROVED 07/28/2015

B Texas Agent APPROVED 07/28/2015

IA Texas Investment Adviser Representative APPROVED 07/28/2015

B Vermont Agent APPROVED 07/28/2015

B Virginia Agent APPROVED 07/28/2015

B Washington Agent APPROVED 08/07/2017

B West Virginia Agent APPROVED 07/28/2015

B Wisconsin Agent APPROVED 07/28/2015

B Wyoming Agent APPROVED 07/28/2015

Branch Office Locations

MORGAN STANLEY1290 AVENUE OF THE AMERICASNEW YORK, NY 10104







Industry Exams this Broker has Passed

This individual has passed 0 principal/supervisory exams, 3 general industry/product exams, and 2 state securities law exams.

This section includes all securities industry exams that the broker has passed. Under limited circumstances, a broker may attain a registrationafter receiving an exam waiver based on exams the broker has passed and/or qualifying work experience. Any exam waivers that the broker hasreceived are not included below.

Exam Category Date

Principal/Supervisory Exams

No information reported.

Exam Category Date

General Industry/Product Exams

Securities Industry Essentials Examination 10/01/2018SIEB

National Commodity Futures Examination 02/27/1989Series 3B

General Securities Representative Examination 01/21/1989Series 7B

Exam Category Date

State Securities Law Exams

Uniform Combined State Law Examination 10/28/2008Series 66B IA

Uniform Securities Agent State Law Examination 01/31/1989Series 63B

Additional information about the above exams or other exams FINRA administers to brokers and other securities professionals can be found atwww.finra.org/brokerqualifications/registeredrep/.





www.finra.org/brokerqualifications/registeredrep/



Professional Designations

This section details that the representative has reported 0 professional designation(s).







Registration and Employment History

Registration History

Registration Dates Firm Name CRD# Branch Location

The broker previously was registered with the following firms:

IA 10/2008 - 08/2015 CREDIT SUISSE SECURITIES (USA) LLC 816 NEW YORK, NY

B 08/2005 - 08/2015 CREDIT SUISSE SECURITIES (USA) LLC 816 NEW YORK, NY

B 07/1997 - 08/2005 MORGAN STANLEY DW INC. 7556 PURCHASE, NY

B 03/1993 - 07/1997 PAINEWEBBER INCORPORATED 8174 WEEHAWKEN, NJ

B 01/1989 - 03/1993 LEHMAN BROTHERS INC. 7506 NEW YORK, NY

Employment History

Employment Employer Name Investment RelatedPosition Employer Location

This section provides up to 10 years of an individual broker's employment history as reported by the individual broker on the most recently filedForm U4.

Please note that the broker is required to provide this information only while registered with FINRA or a national securities exchangeand the information is not updated via Form U4 after the broker ceases to be registered. Therefore, an employment end date of"Present" may not reflect the broker's current employment status.

09/2015 - Present MORGAN STANLEY PRIVATE BANK,NATIONAL ASSOCIATION

FINANCIAL ADVISOR Y NEW YORK, NY, UnitedStates

07/2015 - Present MORGAN STANLEY FINANCIAL ADVISOR Y NEW YORK, NY, UnitedStates

08/2005 - 07/2015 CREDIT SUISSE SECURITIES (USA) LLC DIRECTOR Y NEW YORK, NY, UnitedStates

Other Business Activities

This section includes information, if any, as provided by the broker regarding other business activities the broker is currently engaged in either asa proprietor, partner, officer, director, employee, trustee, agent or otherwise. This section does not include non-investment related activity that isexclusively charitable, civic, religious or fraternal and is recognized as tax exempt.







Disclosure Events

What you should know about reported disclosure events:

1. All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations,regulatory actions, employment terminations, bankruptcy filings, and criminal or civil judicial proceedings.

2. Certain thresholds must be met before an event is reported to CRD, for example: o A law enforcement agency must file formal charges before a broker is required to disclose a particular criminal event. o A customer dispute must involve allegations that a broker engaged in activity that violates certain rules or conduct governing the

industry and that the activity resulted in damages of at least $5,000. o

3. Disclosure events in BrokerCheck reports come from different sources: o As mentioned at the beginning of this report, information contained in BrokerCheck comes from brokers, brokerage firms and

regulators. When more than one of these sources reports information for the same disclosure event, all versions of the event willappear in the BrokerCheck report. The different versions will be separated by a solid line with the reporting source labeled.

o4. There are different statuses and dispositions for disclosure events:

o A disclosure event may have a status of pending, on appeal, or final.§ A "pending" event involves allegations that have not been proven or formally adjudicated.§ An event that is "on appeal" involves allegations that have been adjudicated but are currently being appealed.§ A "final" event has been concluded and its resolution is not subject to change.

o A final event generally has a disposition of adjudicated, settled or otherwise resolved.§ An "adjudicated" matter includes a disposition by (1) a court of law in a criminal or civil matter, or (2) an administrative

panel in an action brought by a regulator that is contested by the party charged with some alleged wrongdoing.§ A "settled" matter generally involves an agreement by the parties to resolve the matter. Please note that brokers and

brokerage firms may choose to settle customer disputes or regulatory matters for business or other reasons.§ A "resolved" matter usually involves no payment to the customer and no finding of wrongdoing on the part of the

individual broker. Such matters generally involve customer disputes.

For your convenience, below is a matrix of the number and status of disclosure events involving this broker. Further informationregarding these events can be found in the subsequent pages of this report. You also may wish to contact the broker to obtain furtherinformation regarding these events.

Final On AppealPending

Regulatory Event 0 1 0

Customer Dispute 0 4 N/A






Disclosure Event Details

When evaluating this information, please keep in mind that a discloure event may be pending or involve allegations that are contested and havenot been resolved or proven. The matter may, in the end, be withdrawn, dismissed, resolved in favor of the broker, or concluded through anegotiated settlement for certain business reasons (e.g., to maintain customer relationships or to limit the litigation costs associated with disputingthe allegations) with no admission or finding of wrongdoing.

This report provides the information exactly as it was reported to CRD and therefore some of the specific data fields contained in the report maybe blank if the information was not provided to CRD.

Regulatory - Final

This type of disclosure event may involve (1) a final, formal proceeding initiated by a regulatory authority (e.g., a state securities agency, self-regulatory organization, federal regulatory such as the Securities and Exchange Commission, foreign financial regulatory body) for a violation ofinvestment-related rules or regulations; or (2) a revocation or suspension of a broker's authority to act as an attorney, accountant, or federalcontractor.

Disclosure 1 of 1

Reporting Source: Regulator

Regulatory Action InitiatedBy:

FINRA

Sanction(s) Sought:

Date Initiated: 06/17/2020

Docket/Case Number: 2016051048101

Employing firm when activityoccurred which led to theregulatory action:

Credit Suisse Securities (USA) LLC

Product Type: Options

Allegations: Without admitting or denying the findings, Dishner consented to the sanctions andto the entry of findings that he exercised discretionary power in a customer'sbrokerage accounts, executing securities transactions, including equities andoption contracts. The findings stated that the customer, a long-term client ofDishner, orally or implicitly gave him authority to exercise discretion in his accountsbut did not provide written authorization for him to exercise discretion. Dishner'smember firm did not accept the accounts in writing as discretionary, and, for thetrades involving option contracts, a Registered Options Principal or LimitedPrincipal - General Securities Sales Supervisor did not accept the accounts inwriting as discretionary.

Current Status: Final





https://www.finra.org/rules-guidance/oversight-enforcement/finra-disciplinary-actions?search=2016051048101


Resolution: Acceptance, Waiver & Consent(AWC)

Resolution Date: 06/17/2020

Sanctions Ordered:

Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?

No

Civil and Administrative Penalty(ies)/Fine(s)Suspension

If the regulator is the SEC,CFTC, or an SRO, did theaction result in a finding of awillful violation or failure tosupervise?

No

(1) willfully violated anyprovision of the SecuritiesAct of 1933, the SecuritiesExchange Act of 1934, theInvestment Advisers Act of1940, the InvestmentCompany Act of 1940, theCommodity Exchange Act, orany rule or regulation underany of such Acts, or any ofthe rules of the MunicipalSecurities Rulemaking Board,or to have been unable tocomply with any provision ofsuch Act, rule or regulation?

(2) willfully aided, abetted,counseled, commanded,induced, or procured theviolation by any person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any of suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board? or






(2) willfully aided, abetted,counseled, commanded,induced, or procured theviolation by any person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any of suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board? or

(3) failed reasonably tosupervise another personsubject to your supervision,with a view to preventing theviolation by such person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board?

Capacities Affected: All Capacities

Duration: 10 business days

Start Date: 07/20/2020

End Date: 07/31/2020

Sanction 1 of 1

Sanction Type: Suspension






Monetary Related Sanction: Civil and Administrative Penalty(ies)/Fine(s)

Total Amount: $5,000.00

Portion Levied againstindividual:

$5,000.00

Date Paid by individual:

Was any portion of penaltywaived?

No

Amount Waived:

Monetary Sanction 1 of 1

Payment Plan:

Is Payment Plan Current:

iReporting Source: Broker

Regulatory Action InitiatedBy:

FINRA

Sanction(s) Sought:

Date Initiated: 06/17/2020

Docket/Case Number: 2016051048101

Employing firm when activityoccurred which led to theregulatory action:

Credit Suisse Securities (USA) LLC

Product Type: Equity Listed (Common & Preferred Stock)Options

Allegations: Without admitting or denying the findings, Dishner consented to the sanctions andto the entry of findings that he exercised discretionary power in a customer'sbrokerage accounts, executing securities transactions, including equities andoption contracts without the customer's prior written authorization and his memberfirm did not accept the accounts in writing as discretionary and, for the tradesinvolving option contracts, a Registered Options Principal or Limited Principal -General Securities Sales Supervisor did not accept the accounts in writing asdiscretionary. The findings stated that, during the relevant period, the customer, along-term client of Dishner, orally or implicitly gave him authority to exercisediscretion in his accounts.

Current Status:12�2020 FINRA. All rights reserved. Report about ALBERT DISHNER.




https://www.finra.org/rules-guidance/oversight-enforcement/finra-disciplinary-actions?search=2016051048101


Current Status: Final

Resolution: Acceptance, Waiver & Consent(AWC)

Resolution Date: 06/17/2020

Sanctions Ordered:

Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?

No

Civil and Administrative Penalty(ies)/Fine(s)Suspension

Capacities Affected: All Capacities

Duration: 10 business days

Start Date: 07/20/2020

End Date: 07/31/2020

Sanction 1 of 1

Sanction Type: Suspension

Monetary Related Sanction: Civil and Administrative Penalty(ies)/Fine(s)

Total Amount: $5,000.00

Portion Levied againstindividual:

$5,000.00

Date Paid by individual:

Was any portion of penaltywaived?

No

Amount Waived:

Monetary Sanction 1 of 1

Payment Plan:

Is Payment Plan Current:






Customer Dispute - Settled

This type of disclosure event involves a consumer-initiated, investment-related complaint, arbitration proceeding or civil suit containing allegationsof sale practice violations against the broker that resulted in a monetary settlement to the customer.

Disclosure 1 of 2

Reporting Source: Firm

Employing firm whenactivities occurred which ledto the complaint:

Allegations:

CREDIT SUISSE SECURITIES (USA) LLC

CLAIMANT HAS ALLEGED NEGLIGENCE, BREACH OF FIDUCIARY DUTY ANDCONTRACT, AND VIOLATION OF FINRA RULES AND STATE AND FEDERALSECURITIES LAWS, EXCESSIVE TRADING/CHURNING, AND FAILURE TOSUPERVISE IN HIS ACCOUNT FROM 2010 TO 2015.

Product Type: Other: ETFS

Alleged Damages: $600,000.00

Date Complaint Received: 08/08/2016

Complaint Pending? No

Status:

Status Date: 12/30/2016

Settlement Amount: $205,000.00

Customer Complaint Information

Settled

Alleged Damages AmountExplanation (if amount notexact):

APPROXIMATELY

Is this an oral complaint? No

Is this a written complaint? Yes

Is this an arbitration/CFTCreparation or civil litigation?

Yes

Arbitration/Reparation forumor court name and location:

FINRA

Docket/Case #: 2016-1922

Filing date ofarbitration/CFTC reparationor civil litigation:

06/30/2016







Individual ContributionAmount:

$0.00



Allegations:


CLAIMANT HAS ALLEGED NEGLIGENCE, BREACH OF FIDUCIARY DUTY ANDCONTRACT, AND VIOLATION OF FINRA RULES AND STATE AND FEDERALSECURITIES LAWS, EXCESSIVE TRADING/CHURNING, AND FAILURE TOSUPERVISE IN HIS ACCOUNT FROM 2010 TO 2015.

Product Type: Other: ETFS




Status:




$0.00


Settled

Alleged Damages AmountExplanation (if amount notexact):

APPROXIMATELY




Yes

Arbitration/Reparation forumor court name and location:

FINRA

Docket/Case #: 2016-1922

Filing date ofarbitration/CFTC reparationor civil litigation:

06/23/2016







$0.00

Disclosure 2 of 2

i

Reporting Source: Broker


Allegations:


CLIENT ALLEGED PURCHASE OF EBAY SHARES WAS TOO LARGE.

Product Type: Equity Listed (Common & Preferred Stock)

Alleged Damages: $0.00



Status:




$28,000.00


Settled






Customer Dispute - Closed-No Action / Withdrawn / Dismissed / Denied

This type of disclosure event involves (1) a consumer-initiated, investment-related arbitration or civil suit containing allegations of sales practiceviolations against the individual broker that was dismissed, withdrawn, or denied; or (2) a consumer-initiated, investment-related written complaintcontaining allegations that the broker engaged in sales practice violations resulting in compensatory damages of at least $5,000, forgery, theft, ormisappropriation, or conversion of funds or securities, which was closed without action, withdrawn, or denied.

Disclosure 1 of 2

Reporting Source: Broker


Allegations:


CUSTOMER ALLEGES THAT THE REPRESENTATIVE DID NOT FOLLOW THECUSTOMER'S DIRECTION TO SELL SECURITIES AND THEN SOLDSECURITIES, ALLEGEDLY WITHOUT THE CUSTOMER'S AUTHORIZATION.

Product Type: Equity Listed (Common & Preferred Stock)




Status:


Settlement Amount:


Broker Statement REGISTERED REPRESENTATIVE DENIES ALL ALLEGATIONS MADE AGAINSTHIM.


Denied




No

Disclosure 2 of 2

i

Reporting Source: Firm







Allegations:

SALOMON SMITH BARNEY INC.

THE CLIENTS'REPRESENTATIVE ALLEGEDUNAUTHORIZED TRADING, CHURNING AND UNSUITABILITY (MUTUAL FDSAND LTD PARTNERSHIPS) ALLEGED DAMAGES - UNSPECIFIED BUT INEXCESS OF $10,000

Product Type:

Alleged Damages:



Status:

Status Date:

Settlement Amount:


Firm Statement PENDINGCONTACT: IRENE SINGER (212) 723-3126


Denied



Allegations:

SALOMON SMITH BARNEY INC.

THE CLIENTS REPRESENTATIVE ALLEGEDUNAUTHORIZED TRADING, CHURNING AND UNSUITABILITY (MUTUALFUNDS& LTD PARTNERSHIPS) ALLEGED DAMAGES UNSPECIFIED, BUT IN EXCESSOF $10,000.

Product Type:

Alleged Damages:


Complaint Pending?








Status:

Status Date:

Settlement Amount:


Broker Statement PENDINGSEE ATTACHED

Denied






End of Report

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Documents

ALBERT DISHNER - files.brokercheck.finra.org › individual › individual_1912362.pdf · Registration and Employment History Registration History Registration Dates Firm Name CRD#