Francisco Valenzuela Investigation
June 2022- Phoenix, AZ
According to FINRA records, Francisco J. Valenzuela , a former broker who previously worked for Morgan Stanley , discloses 2 regulatory events, 4 prior customer disputes and a Chapter 7 bankruptcy filing.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
FINRA permanently barred Valenzuela from the industry in 10/2018 for failing to respond to a FINRA request for information. Subsequently in 11/2018, the bar was vacated. In 1/2020 FINRA suspended Valenzuela for 8 months to resolve allegations that he willfully failed to amend FINRA filings to disclose a federal tax lien of over $150,000.
Recently, in May 2022, a FINRA arbitration panel ordered Valenzuela to pay a former customer, a farmer from Hermosillo, Mexico, $160,000 for recommending an investment in junk bonds. In addition, his employer, Morgan Stanley was ordered to pay another $160,000 for negligence and failing to supervise Valenzuela. FINRA Case 20-3591.
A prior customer dispute involving a customer of his prior employer, Merrill Lynch, was settled for $90,000. That customer alleged that Valenzuela excessively traded his account and made unsuitable recommendations.
Francisco Valenzuela was employed by Morgan Stanley from 3/2015-1/2018. Prior to that he was with Merrill Lynch from 12/2010-4/2015.
If you have questions about an account handled by Francisco J. Valenzuela, call for a no charge consultation.
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