FINRA: Steven Caputo Has Customer Complaints

Steven Caputo (CRD# 2133741[1]) has been involved in customer disputes and is currently not registered as a broker or an investment adviser. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report, accessed on December 1, 2021, Mr. Caputo was most recently registered with Morgan Stanley’s branch office in Stamford, Connecticut.

Customer: Caputo Made Unsuitable Recommendations

Two customer complaints involving Steven Caputo were filed in 2008. In one case, a customer alleged Steven Caputo made unsuitable trading and holding recommendations in his account from 2007 to 2008. In 2010 this complaint settled for $82,500.

In the second complaint, an account’s successor trustees alleged Steven Caputo unsuitably recommended the purchase of a closed-end fund called RMK. The trustees sought more than $36,000 in the complaint, which was denied—a term that means the firm conducted its own inquiry and found the complaint was without merit. Investors whose complaints are denied by a firm can still seek recourse by filing a FINRA arbitration claim.

Morgan Stanley Severed Ties with Steven Caputo as of October 2021

According to the Financial Industry Regulatory Authority, Steven Caputo’s 28 years of experience in the securities industry began in 1993, when he joined Tucker Anthony’s office in Boston, Massachusetts as a broker. He left Tucker Anthony in 2002, joining RBC Capital Markets in Stamford, Connecticut. In 2011 he moved to Morgan Stanley’s office in Stamford, where he remained until departing the firm in October 2021. He has passed four securities industry examinations and currently is not licensed in any state or registered with any firm.

More information on former Stamford-based Morgan Stanley broker Steven Caputo’s registration history, including the customer complaints involving him, is available via his FINRA BrokerCheck report[2].(The above-referenced information was accessed on December 1, 2021.)

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