Angel Edgardo Aquino-Velez (also known as Angel Edgardo Aquino and Angel Edgardo Aquinovelez), of Miami, Florida, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $450,000.00 in damages supported by allegations that Aquino-Velez effected unsuitable closed-end fund and municipal bond transactions during the time that he was associated with Morgan Stanley Smith Barney. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01420 (May 18, 2021).
FINRA Public Disclosure shows that Aquino-Velez has been identified in twenty-five additional customer initiated investment related disputes regarding accusations of his misconduct while registered with Morgan Stanley Smith Barney, Merrill Lynch Pierce Fenner Smith Inc., and UBS Financial Services. On November 5, 2019, a customer initiated investment related FINRA securities arbitration claim regarding Aquino-Velez’s activities was settled for $105,000.00 in damages based upon allegations of unsuitable Puerto Rico investments between 2013 and 2017 when Aquino-Velez was registered with Morgan Stanley. FINRA Arbitration No. 18-02481.
Aquino-Velez is additionally referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $75,000.00 in damages based upon accusations of Aquino-Velez’s unsuitable use of leverage in the customer’s account while employed by Morgan Stanley Smith Barney. FINRA Arbitration No. 19-00230 (May 29, 2020). The claim alleges that Aquino-Velez provided unsuitable recommendations concerning bonds and closed-end funds.
The stockbroker is also the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $150,000.00 in damages founded on accusations of him overconcentrating the customer’s Morgan Stanley Smith Barney account in Puerto Rico municipal bonds. FINRA Arbitration No. 18-03805 (July 2, 2020).
On August 17, 2020, a different customer initiated investment related FINRA securities arbitration claim involving Aquino-Velez’s conduct was settled for $15,000.00 in damages supported by allegations of unsuitability concerning the bond trades Aquino-Velez made between 2015 and 2017 while registered with Morgan Stanley. FINRA Arbitration No. 19-02135.
Aquino-Velez is also identified in a customer initiated investment related FINRA securities arbitration claim which was settled for $4,400,000.00 in damages founded on allegations of unsuitable trading by Aquino-Velez at Morgan Stanley between 2010 and 2017, resulting in losses on closed-end funds and municipal bonds. FINRA Arbitration No. 18-03973 (January 29, 2021).
On July 7, 2021, another customer initiated investment related FINRA securities arbitration claim concerning Aquino-Velez’s activities was resolved for $14,750.00 in damages supported by accusations of Aquino-Velez’s unsuitable investment recommendations when he was associated with Merrill Lynch. FINRA Arbitration No. 19-02058 (July 7, 2021).
Aquino-Velez was registered with Morgan Stanley between February 2, 2010, and July 13, 2017.
