Corps Capital Advisors Worth How Many Stars Out Of 5? (Latest Update 2023)
At Corps Capital Advisors, Constantinos Maniatis serves as a financial advisor. His previous employer was Morgan Stanley. The Financial Industry Regulatory Authority (FINRA) did, however, impose a 30-day penalty on him.
The industry watchdog said that from May 2018 to February 2019, Constantinos used discretionary trading in 7 customer accounts without receiving prior written consent.
FINRA also imposed a $5,000 fine on Constantinos Maniatis.
The alleged infractions were committed by Constantinos Maniatis while he was employed with Morgan Stanley in Dallas, Texas.
Constantinos Maniatis is a financial advisor who currently works with Corps Capital Advisors, providing his expertise to clients seeking financial advice. He previously worked at Morgan Stanley, a global financial services firm. However, he faced a 30-day penalty imposed by the Financial Industry Regulatory Authority (FINRA) for using discretionary trading in seven customer accounts between May 2018 and February 2019 without receiving prior written consent. FINRA also fined him $5,000 for this violation. These alleged infractions occurred during his employment with Morgan Stanley in Dallas, Texas. Despite these penalties, Constantinos Maniatis continues to offer his services as a financial advisor to clients.
- FINRA is authorized by the US government to enforce ethical investment practices.
- FINRA operates the largest securities dispute resolution forum in the US.
- FINRA is a ‘no cost’ service for taxpayers.
In May 2019, Morgan Stanley fired him for the “alleged” misbehavior including the misappropriation of funds from his “assigned rep code” and a non-discretionary account.
Constantinos Maniatis has been associated with Corps Capital Partners since.
It’s important to note that trustworthy financial counselors are not subject to such accusations, especially from FINRA. Because of this, you should always research an FA’s professional background before cooperating with them on a project.
More information about Corps Capital Advisors:
In April 2021, Constantinos Maniatis Maniatis signed a letter of acceptance, waiver, and consent. The number for the letter is 2019062788601. Constantinos Maniatis was accused by FINRA of using his discretion in 7 customer accounts between May 2018 and February 2019 even though his employer, Morgan Stanley, forbade such discretionary trading.
Furthermore, he used municipal securities in a lot of his discretionary purchases.
Further, FINRA said that during that time, Maniatis made decisions in 7 accounts at 105 different times.
Furthermore, municipal securities were used in 13 of those transactions.
Although Morgan Stanley and its clients had previously approved the use of discretion in certain accounts, Morgan Stanley did not allow the same user when Constantinos Maniatis used his discretion.
Additionally, throughout that time, Morgan Stanley did not accept those accounts as discretionary accounts.
As a result, Constantinos Maniatis broke the FINRA Rule 2010 and MSRB Rule G-17 as well as NASD Rule 2510(b).
This was an instance of illegal dealing. It typically happens when a client exercises discretion. Brokers that operate with non-discretionary accounts are obligated to ask their clients for approval before making any trades.
Unauthorized trade is also wrong and prohibited. The clients suffer severe losses as a result of it breaking securities laws and regulations.
FINRA Disclosures Against Corps Capital Advisors Executives:
For almost 20 years, Constantinos Maniatis has worked in the finance sector. He has worked at Merrill Lynch and Citigroup Global Markets in addition to Corps Capital Partners and Morgan Stanley.
Furthermore, Maniatis wasn’t only involved in a conflict during the suspension we mentioned above.
Customer Dispute Corps-Capital-Advisors-ReviewDownload (2014)
A client of Constantinos Maniatis sent Morgan Stanely a letter of complaint in 2014. The customer claimed in their lawsuit that Maniatis misrepresented an investing plan involving energy stocks.
The client chose to complain to the brokerage firm instead of filing a securities arbitration complaint.
As a result, the brokerage company rejected the customer’s complaint and made no apology.
Notably, Maniatis is not the only FA to have experienced such conflicts. Another financial advisor who has been involved in conflicts resulting in damages of over $500,000 is Greg Baker Merrill Lynch. Always be on the lookout for such advisors.
Corps Capital Advisors Review 2023 Verdict: Not Recommended
Despite having extensive industry knowledge, Constantinos Maniatis’ history of alleged unlawful trading and falsification raises questions about his reliability.
Unauthorized trade and misrepresentation are serious problems because they are both wrong and against the law.
It would be advisable for you to locate an alternative FA due to these factors.