Nordo Mauro Nissi of York Maine a stockbroker formerly registered with Morgan Stanley is the subject of a Consent Order issued by the Commonwealth of Massachusetts Securities Division in which Nissi agreed to be placed on heightened supervision as a condition of maintaining an investment adviser representative registration in the Commonwealth because of (1) Nissi being subject of at least three customer disputes concerning allegations of his misconduct and (2) Nissi being terminated from a securities broker dealer founded on accusations of Nissi’s violation of industry standards or firm rules. Case No. R-2018-0123 (Oct. 11, 2018).
The Enforcement Action, which resulted in a consent decree subjecting Nissi to heightened supervion suggests that:
NISSI HAS BEEN THE SUBJECT OF SIXTEEN (16) DISCLOSURE INCIDENTS; THREE (3) CUSTOMER COMPLAINTS, NINE (9) TAX LIENS, TWO (2) BANKRUPTCY DISCLOSURES, ONE (1) INTERNAL REVIEW, AND ONE (1) TERMINATION.
https://brokercheck.finra.org/individual/summary/1666385
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Nissi is referenced in three customer initiated investment related disputes pertaining to accusations of Nissi’s violative conduct during the time that he was associated with Morgan Stanley and Wachovia Securities. Particularly, Nissi is subject of a customer initiated investment related written complaint which was settled to resolve allegations that while Nissi was associated with Wachovia Securities LLC, the customer’s equities holdings had been liquidated contrary to the customer’s instructions.
Then, a customer filed an investment related complaint concerning Nissi’s activities where the customer sought $12,000.00 in damages supported by accusations that while Nissi was associated with Morgan Stanley, closed end funds and equities were bought and sold from the customer’s investment account without the customer ever authorizing the transactions. Subsequently, on April 23, 2018, a customer filed an investment related complaint regarding Nissi’s conduct in which the customer requested unspecified damages founded on allegations that between 2012 and 2015, the customer was placed into a variable annuity that was inappropriate for the customer given the customer’s financial needs, objectives for investing, or tolerance for risk.
Nissi was terminated from Morgan Stanley Wealth Management on April 9, 2018 based upon accusations that Nissi engaged in activities with an unaffiliated investment advisory without informing Morgan Stanley Wealth Management or receiving the firm’s authorization. Between May 16, 2018 and October 19, 2018, Nissi was associated with M.S. Howells Co.
