Ricardo Fontana Guimaraes of Miami Florida a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $57,000.00 in damages based upon allegations that the customer had been sold unsuitable bonds from Guimaraes when he was associated with UBS Financial Services Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01301 (Jan. 28, 2020). According to the claim, Brazilian bond transactions were violative of securities regulations.
This is the second time that Guimaraes has been the subject of a customer initiated investment related complaint. FINRA Public Disclosure reveals that on October 1, 2018, a customer initiated investment related FINRA securities arbitration claim concerning Guimaraes’s conduct was settled for $81,250.00 in damages supported by accusations that unsuitable investments were sold to the customer by Guimaraes in February of 2017 during the period that he was associated with Wells Fargo Clearing Services.
Guimaraes was registered as a stockbroker and investment adviser representative of Wells Fargo Clearing Services between October 15, 2015 and March 16, 2021. Since March 17, 2021, he has been associated with Morgan Stanley as both a stockbroker and investment adviser representative.