According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Jaime Aguilar allegedly borrowed funds totaling $22,100 from two customers without disclosing the loans to the firm. He also falsely stated in an annual compliance questionnaire that he had not borrowed money from customers in the past 24 months at Morgan Stanley, when, in fact, he had. For this, he was issued a $5,000 fine and suspended from associating with any FINRA member in any capacity for 45 days. Aguilar was associated with Citigroup in San Diego, California from September 1998 until June 2009 and Morgan Stanley in San Diego from June 2009 until June 2016. He has three customer disputes against him alleging engaging in an inappropriate and unsuitable investment strategy as well as liquidating and transferring funds without authorization, misrepresentations and investing in unsuitable securities and mutual fund purchases without authorization. All of these are against securities rules and Morgan Stanley can be sued in the FINRA arbitration forum for failing to properly supervise Aguilar. We are Chicago-based securities attorneys who may be able to help you bring a claim against the firm on a contingency fee basis.
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