Investigation involving Guillermo Valladolid
According to the Financial Industry Regulatory Authority (FINRA), the regulator has permanently barred Guillermo Valladolid (CRD # 4553357, La Jolla, CA) from the Securities Industry.
Without admitting or denying the findings, Valladolid consented to the sanction and to the entry of findings that he failed to provide documents and information requested by FINRA. The request was in connection with an investigation into allegations that he improperly sold investments away from his member firm and engaged in an undisclosed outside business.
According to his FINRA BrokerCheck report, Valladolid was registered with Morgan Stanley in La Jolla, CA from April 2015 until he was discharged in August 2017. Prior to that, Valladolid was associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated in La Jolla from June 2011 until May 2015.
For FINRA’s full findings see FINRA case #NO. 2017054997501.
The White Law Group is investigating what liability that Vallladolid’s former employer may have for his actions. When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.” Some brokers, looking to supplement their income, will go outside the traditional market, trying to find other products to push.
If a registered broker “sells away” from their firm, the brokerage firm may be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.
If you have invested with Guillermo Valladolid and are concerned about your investments the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call our offices at 888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.