According to a recent InvestmentNews article, the Financial Industry Regulatory Authority (FINRA) barred former Morgan Stanley broker Guillermo Valladolid for failing to appear at a hearing. The hearing was looking into charges that he sold investments away from Morgan Stanley and engaged in undisclosed business activities. This would be against FINRA rules and regulations. This is sometimes referred to as selling away, and is when a broker recommends or sells a security that is not held or offered by his member firm. He does this so he does not have to share the commissions with the firm.
Guillermo Valladolid was previously registered with Merrill Lynch in La Jolla, California from June 2011 until May 2015 and Morgan Stanley in La Jolla from April 2015 until August 2017. He has been permanently barred from the industry, according to his online FINRA BrokerCheck report.
Disclaimer
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.
