Francisco Javier Valenzuela of Tucson Arizona a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim where the customer requested $500,000.00 in damages founded on allegations that investment recommendations made to the customer were not suitable and that misrepresentations had been made by Valenzuela while he was associated with Merrill Lynch. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03591 (Oct. 31, 2020). The claim also alleges that trades were effected in the customer’s account on an excessive basis by the stockbroker.
Valenzuela has been identified in three additional customer initiated investment related disputes pertaining to his allegedly Unsuitable sales practices while registered with securities broker dealers including Chase Investment Services Corp. FINRA Public Disclosure confirms that a customer initiated investment related complaint concerning Valenzuela’s conduct was settled for $12,269.77 in damages supported by allegations that information had been misrepresented by Valenzuela in regards to a mutual fund purchased by the Chase investment Services Corp customer.
Valenzuela is also referenced in a customer initiated investment related written complaint in which the customer requested $8,500.00 in damages based upon accusations that an annuity had been misrepresented by Valenzuela while he was registered with Chase Investment Services Corp. On February 6, 2020, another customer filed an investment related arbitration claim regarding Valenzuela’s conduct where the customer requested unspecified damages founded on allegations of Valenzuela’s corporate bond trades not being suitable for the customer of Morgan Stanley Smith Barney. FINRA Arbitration No. 20-03591 (Nov. 2, 2020).
Valenzuela has also been twice sanctioned by FINRA for misconduct. He was barred from associating with any FINRA member in any capacity supported by accusations that he neglected to cooperate with FINRA’s request for information during an inquiry or investigation. He was suspended between August 13, 2018 and October 22, 2018 before being barred on October 23, 2018. The bar was lifted on November 16, 2018.
Valenzuela has also been fined $10,000.00 and suspended for eight months from associating with any FINRA member in any capacity based upon findings that he failed to tell FINRA the reason that he was terminated by Morgan Stanley Smith Barney. Letter of Acceptance Waiver and Consent No. Letter of Acceptance Waiver and Consent No. 2018057266702 (Dec. 17, 2019).
According to the AWC, between May 2018 and June 2018, Valenzuela was asked for information about the circumstances in which Morgan Stanley terminated his registration. Valenzuela ultimately provided the information to FNIRA on February 4, 2019 but he did not timely respond to FNIRA’s additional requests until November of 2019. The regulator found that Valenzuela’s conduct was violative of FINRA Rules 2010 and 8210.
Valenzuela was registered with Morgan Stanley between March 27, 2015 and January 25, 2018.
