BARRED BROKER: Former Morgan Stanley Financial Advisor Guillermo Valladolid
Posted on Monday, January 29th, 2018 at 12:53 pm
Erez Law is currently investigating former Morgan Stanley financial advisor Guillermo Valladolid (CRD# 4553357) regarding selling away. When a financial advisor sells an investment to a client without his brokerage firm’s permission, the broker is selling investments away from the firm, or simply “selling away.”
Valladolid was registered with Morgan Stanley in La Jolla, California from 2015 to August 2017, when he was terminated regarding, “Allegations involving representative’s outside business activities.” Previously, he was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in La Jolla, California from 2011 to 2015, when he was terminated regarding, “Conduct involving failure to escalate a customer complaint to management.”
In January 2018, FINRA barred Valladolid after he failed to provide documents and information as requested by FINRA and failed to appear at a hearing looking into charges that he improperly sold investments away from his member firm and engaged in an undisclosed outside business.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Morgan Stanley may be liable for investment or other losses suffered by Valladolid’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.