Jesus Rodriguez, of El Paso, Texas, a stockbroker formerly registered with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to comply with FINRA investigators regarding allegations of his misuse of a customer’s credit line. Letter of Acceptance, Waiver, and Consent No. 2021072373401 (November 29, 2021).
According to the AWC, the regulator’s investigation into Rodriguez stems from accusations Morgan Stanley made against him when it accepted his resignation on August 6, 2021. The securities broker dealer indicated to FINRA that Rodriguez voluntarily resigned after he was accused of using a customer’s line of credit for Rodriguez’s benefit.
The AWC states that on October 15, 2021, Rodriguez was asked by FINRA to provide documents and information regarding the allegations Morgan Stanley made. Rodriguez’s lawyer contacted FINRA on November 5, 2021, to relay that Rodriguez would not cooperate with the investigation. Rodriguez did not provide the documents and information that the regulator asked for. He violated FINRA Rules 2010 and 8210 for this reason.
FINRA Public Disclosure shows that Rodriguez has been identified in six customer initiated investment related disputes containing accusations of his harmful activities during the time that he was registered with Morgan Stanley. On July 15, 2021, a customer filed an investment related complaint concerning Rodriguez’s conduct. The customer requested $61,431.00 in damages supported by allegations of Rodriguez’s misuse of a line of credit between 2017 and 2021 while he was registered with Morgan Stanley.
On August 23, 2021, another customer filed an investment related complaint regarding Rodriguez’s activities. The customer sought compensatory damages founded on accusations of money being withdrawn from their Morgan Stanley account without their consent from 2017 to 2020.
Rodriguez is also identified in a customer initiated investment related written complaint on August 30, 2021. The customer requested $266,000.00 in damages based upon allegations of unauthorized withdrawals by Rodriguez in 2020 and 2021.
On September 9, 2021, another customer filed an investment related complaint involving Rodriguez’s conduct. The customer sought compensatory damages supported by accusations of misappropriation and unauthorized trading of mutual funds by Rodriguez at Morgan Stanley between 2020 and 2021.
On September 28, 2021, a different customer filed an investment related complaint concerning Rodriguez’s activities. The customer requested compensatory damages founded on allegations of fraudulent withdrawals by Rodriguez when he was associated with Morgan Stanley.
Rodriguez is also referenced in a customer initiated investment related complaint which was resolved for $30,470.00 in damages on November 22, 2021, based upon accusations of funds being misappropriated by Rodriguez from the customer’s Morgan Stanley account.
