The arbitration panel found that Cebert “could have been more diligent and proactive in terms of acclimating himself and his team to some of the requirements” at Morgan Stanley, but it put a “far greater degree of fault on the part of [Morgan Stanley] during [Cebert’s] employment and after his termination.”
In an e-mail, Morgan Stanley spokesperson Christine Jockle would say only that the firm disagreed with the panel’s decision.
Cebert is now affiliated with FSC Securities Corp.