- January 6, 2023
- Morgan Stanley
Luis Bonilla (CRD#: 2643542) is a previously registered Broker and previously registered Investment Adviser.
He entered the securities industry in 1995 and previously worked for Morgan Stanley; Wells Fargo Advisors, LLC; First Union Brokerage Services, Inc.; and Bersec International Corporation.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in October 2022, Luis Bonilla resigned from Morgan Stanley during a period where the firm was concerned about whether he “failed to disclose client involvement, and/or solicited client investments, in the representative’s approved outside business activity.”
In addition, Luis Bonilla has been the subject of six customer complaints, including the following:
- March 2016 — “Client alleges unsuitability, inter alia, with respect to purchases of corporate bonds – 2013 – 2015. Damages unspecified.” The customer dispute was denied.
- March 2015 — “CLAIMANT ALLEGED, INTER ALIA, EXCHANGE TRADED FUND INVESTMENTS MADE IN HER ACCOUNT WERE UNSUITABLE – 2011 TO 2014.” The customer dispute was settled for $150,000.
- January 2003 — “ALLEGES HE WAS INVITED TO INVEST IN UNSUITABLE HIGH YIELD BONDS. DAMAGES UNSPECIFIED BUT APPEARS TO HAVE UNREALIZED LOSS OF $125K.” The customer dispute was settled for $45,000.
- November 2002 — “AUSTRIAN NATIONAL (RESIDENT OF GERMANY AT THE TIME OF COMPLAINT) CLAIMED THAT SHE WAS A CONSERVATIVE INVESTOR. THE CLIENT FURTHER CLAIMED THAT ADVICE THAT SHE HAD RECEIVED FROM WACHOVIA SECURITIES, INC. LED HER TO INVEST IN VERY AGGRESSIVE AND HIGHLY SPECULATIVE BONDS. THE SECURITIES THAT SHE PURCHASED CONSISTED OF CONSECO INC. NOTES CPN 8.5% DUE 10/15/02, MOTOROLA INC. NOTES CPN 6.450% DUE 02/01/03 AND AES CORP SENIOR NOTES CPN 8.750% DUE 12/15/02. THE PURCHASES OCCURRED IN JUNE AND JULY 2002. THE CLIENT REQUESTED THAT THE TRANSACTIONS IN QUESTION BE CANCELED AND THAT HER PRINCIPAL BE RETURNED TO HER. THE CLIENT INVESTED APPROXIMATELY $70,000 IN THE BONDS. UNREALIZED LOSSES APPEAR TO BE APPROXIMATELY $42,300.” Damages of $42,300 were requested. The customer dispute was denied.
- November 2002 — “COLOMBIAN NATIONAL ALLEGED THAT HE WAS NOT ADVISED AS TO THE RISKS ASSOCIATED WITH HIS INVESTMENT IN A CONSECO INC. 8.5% CORPORATE BOND DUE 10/15/02 THAT HE PURCHASED ON MAY 8, 2002. FURTHER THE CLIENT ALLEGED THAT HE WAS NOT PROVIDED WITH ASSISTANCE IN MANAGING THE INVESTMENT AFTER IT DECLINED IN VALUE. NO DAMAGES WERE SPECIFIED BUT THE UNREALIZED LOSS IS APPROXIMATELY $18,006.00.” Damages of $18,006 were requested. The customer dispute was denied.
- June 2002 — “CLIENTS ALLEGE THAT MUTUAL FUNDS WERE UNSUITABLE AND MISREPRESENTED.” Damages of $8,472 were requested. The customer dispute was denied.
For a copy of Luis Bonilla’s FINRA BrokerCheck, click here.
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