Candido Jose Viyella of Miami Florida a stockbroker formerly registered with Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Viyella failed to comply with FINRA when it investigated him for potentially selling away from Morgan Stanley. Letter of Acceptance Waiver and Consent No. 2019064630801 (May 10, 2021).

According to the AWC, in December of 2020, Morgan Stanley filed a Uniform Termination Notice for Securities Industry Registration (known as a Form U5) with FINRA in regard to Viyella. The securities broker dealer relayed that Viyella’s registration was terminated because of concerns it had regarding Viyella’s involvement in outside investments in which he maintained an ownership interest. Morgan Stanley contended that Viyella’s selling away activities involved customers.

As part of the investigation, FINRA required Viyella to respond to Morgan Stanley’s allegations. He was instructed by the regulator on April 20, 2021 to testify so that it could determine if he engaged in private securities transactions.

The regulator learned on April 20, 2021 that Viyella refused to testify. It was his failure to provide recorded testimony that prevented FINRA from determining if he violated its private securities transactions rules. Viyella obstructed the investigation in violation of FINRA Rules 2010 and 8210.

FINRA Public Disclosure confirms that Viyella has been identified in five customer initiated investment related disputes regarding accusations of his wrongdoing when he was registered with Morgan Stanley. On October 22, 2019, a customer filed an investment related FINRA securities arbitration claim involving Viyella’s activities in which the customer requested compensatory damages based upon allegations that outside investments had been solicited by Viyella when he was associated with Morgan Stanley. FINRA Arbitration No. 19-03149. The claim alleges that the customer held a promissory note between October 15, 2015 and October 18, 2019.

On March 31, 2020, another customer filed an investment related civil action concerning Viyella’s conduct where the customer sought $2,000,000.00 in damages supported by accusations that Viyella made misrepresentations to them concerning a promissory note. Civil Action No. 2020-007502-CA-01. According to the claim, the Morgan Stanley customer had been defrauded.

Viyella is also referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $140,000.00 in damages founded on allegations of the financial advisor soliciting investment opportunities outside of Morgan Stanley’s auspices. FINRA Arbitration No. 20-03478 (Feb. 26, 2021). Another customer initiated investment related FINRA securities arbitration claim regarding Viyella’s conduct was resolved for $60,000.00 in damages based upon accusations of a promissory note transaction that Viyella solicited while registered with Morgan Stanley Smith Barney. FINRA Arbitration No. 20-03478 (Feb. 26, 2021).

Viyella was registered with Morgan Stanley between June 1, 2009 and December 8, 2020.

Tags: ,

Comments are closed.