FINRA fined and suspended former Morgan Stanley (San Diego, CA) broker Jaime Hazael Aguilar for borrowing money from a firm customer in contravention of firm and industry rules, and falsely stating on annual compliance questionnaires that he had not engaged in such borrowing activity.
The findings state that Aguilar (CRD #3082057) borrowed a total of $22,100 from two customers and failed to disclose both loans to Morgan Stanley. FINRA wrote that Aguilar falsely stated on two annual firm compliance questionnaires that he had not borrowed any money from any client when he had.
Morgan Stanley Smith Barney discharged Aguilar in 2016 based on allegations regarding an outside financial transaction between Aguilar and a client of the firm that was not disclosed to the firm.
Aguilar's BrokerCheck report indicates two previous customer disputes, settled for a combined $767,425.05, alleging misrepresentations, unsuitable recommendations, and a mutual fund purchase effected without authorization. A third, seeking $2 million in damages over a suitability dispute, was withdrawn.
If you have invested with former Morgan Stanley (San Diego) broker Jaime Hazael Aguilar or with any registered representative or financial adviser who has engaged in unauthorized loan activity or effected unsuitable or unauthorized transactions that have proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.