Ex-Morgan Stanley Oil Chief Denied $30 Million in Finra Ruling
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Morgan Stanley’s former oil-trading chief, Olav Refvik, lost a demand for $30 million after accusing the firm of “wrongful termination” and other mistreatment, according to a ruling by industry arbitrators.
Refvik, who left the firm in 2008, had also made claims including breach of implied contract, unjust enrichment and improper forfeiture of vested stock and options, according to the Oct. 27 ruling released by the Financial Industry Regulatory Authority. The ruling doesn’t provide details on the allegations or the rationale for the arbitrators’ decision.