Nordo Mauro Nissi, of Boston, Massachusetts, a stockbroker registered with Morgan Stanley, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $55,000.00 in damages based upon allegations that Nissi made misrepresentations and omissions of material fact, committed fraud, made unsuitable recommendations, and failed to supervise certain representatives in connection with the sale of variable annuities during the time that Nissi was associated with Morgan Stanley. FINRA Arbitration No. 20-00294 (June 27, 2022).
FINRA Public Disclosure shows that Nissi was referenced in three other customer initiated investment related disputes concerning Nissi’s conduct while associated with securities broker dealers, including Wachovia Securities LLC. On December 3, 2004, a customer initiated investment related complaint involving Nissi’s conduct was settled to resolve allegations that Nissi failed to follow the customer’s instructions when Nissi was associated with Wachovia Securities LLC.
On August 25, 2009, another customer filed an investment related complaint involving Nissi’s conduct in which the customer requested $12,000.00 in damages based upon allegations that Nissi engaged in unauthorized trading in closed end funds and equities during the time that Nissi was associated with Morgan Stanley Smith Barney. The securities broker dealer denied this complaint.
Nissi was also referenced in a customer initiated investment related complaint filed on April 23, 2018, in which the customer requested damages based upon allegations that Nissi made unsuitable recommendations of variable annuities when Nissi was associated with Morgan Stanley Smith Barney. The firm denied this complaint.
Public Disclosure also shows that on October 11, 2018, Nissi was placed on heightened supervision by Massachusetts because Nissi was the subject of customer complaints, tax liens and bankruptcy disclosures. Consent Order No. R-2018-0123.
Nissi was associated with Morgan Stanley as a stockbroker from June 2, 2004, to May 8, 2018. On April 9, 2018, Morgan Stanley Wealth Management permitted Nissi to resign based upon allegations that Nissi engaged in an undisclosed outside business activity involving a registered investment advisor. He was associated with MS Howells Co. from May 16, 2018, to October 19, 2018.
