Although the client authorized Mr. Strnad to buy the CDs, the broker went beyond "the scope of his authority" by selling those CDs prior to their maturity and using the proceeds from the trades to buy more CDs for the client. Mr. Strnad's trading caused the client to pay almost $4,300 in unnecessary commissions, according to Finra. After the client's daughter made the complaint, Morgan Stanley provided compensation to the client, according to the Finra settlement, which was in the form of a letter of acceptance, waiver and consent. Mr. Strnad agreed to the settlement without admitting or denying the findings, according to Finra. ( More: Finra exams to probe compliance with elder abuse rules ) A spokesperson for Morgan Stanley, Christy Jockle, said the company declined to comment. Mr. Strnad's attorney, Alan Wolper, said that "while we do not deny the findings of the matter, the context of what happened is more in line with [Mr. Strnad] exceeding the scope of discretion he received orally from the client."