He was registered with Morgan Stanley in Tucson, Arizona from August 2021 to September 2022, when he was terminated regarding, “Allegations that the representative misappropriated client funds.” This was in violation of FINRA Rule 2150 and FINRA Rule 2010. The rules are associated in that violations of FINRA Rule 2150 are automatically violations of Rule 2010.
FINRA Rule 2150 prohibits brokers from misusing or misappropriating investors’ funds, while FINRA Rule 2010 holds investment brokers to a level of high standards related to commercial honor and “just and equitable principles of trade.”
Previously, he was registered with Wells Fargo Clearing Services, LLC in Tucson, Arizona from March to August 2021.
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 Fernando Silva’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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.
Did You Lose Money Investing with Robert Vance?
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form below for a free consultation.
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