Former Morgan Stanley Broker Jesus Rodriguez Barred By FINRA
Jesus Rodriguez (CRD#: 4888685) is a previously registered Broker and previously registered Investment Advisor.
He entered the securities industry in 2005 and previously worked for Morgan Stanley; Citigroup Global Markets, Inc.; and Merrill Lynch, Pierce, Fenner & Smith, Inc.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in November 2021, FINRA sanctioned Jesus Rodriguez, barring him from all capacities indefinitely beginning November 29, 2021. The FINRA sanction states, “Without admitting or denying the findings, Rodriguez consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA during the course of its investigation of a Form U5 filed by his member firm. The findings stated that the U5 disclosed that Rodriguez had voluntarily resigned a month earlier following allegations regarding his use of client line of credit for his personal benefit.”
For a copy of the FINRA sanction, click here.
In addition, Jesus Rodriguez has been the subject of six customer complaints, including five that remain pending, including the following:
- September 2021–“CLIENT ALLEGED THAT THERE WERE FRAUDULENT WITHDRAWALS FROM HIS ACCOUNT 2019 DAMAGES UNSPECIFIED.” The customer dispute is pending.
- August 2021–“CLIENT ALLEGES, INTER ALIA, THAT FUNDS WERE MISAPPROPRIATED FROM THEIR ACCOUNTS AND THAT THERE WERE UNAUTHORIZED MUTUAL FUND TRADES AS WELL 2020-2021 DAMAGES UNSPECIFIED.” The customer dispute is pending.
- August 2021–“CLIENT ALLEGED THAT THERE WERE UNAUTHORIZED WITHDRAWALS OF FUNDS FROM HER ACCOUNT 2020-2021.” The customer dispute is pending. Damages of $266,000 are requested.
- August 2021–“CLIENT ALLEGED, INTER ALIA, THAT FUNDS WERE WITHDRAWN FROM THEIR ACCOUNT WITHOUT THEIR KNOWLEDGE 2017-2020.” The customer dispute is pending.
- August 2021–“CLIENT ALLEGES FUNDS WERE MISAPPROPRIATED FROM HER ACCOUNT IN MARCH 2020.” The customer dispute was settled for $30,470.
- August 2021–“Allegations regarding registered representative’s use of client line of credit for his personal benefit.” Jesus Rodriguez voluntarily resigned from Morgan Stanley.
- July 2021–“Clients allege, inter alia, that the FA used their line of credit for his personal benefit. 2017 – 2021.” Damages of $61,431 are requested. The customer dispute is pending.
For a copy of Jesus Rodriguez’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.
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