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Luis Bonilla Resigns from Morgan Stanley

Dec 16, 2022 Employment

Luis Bonilla (CRD #: 2643542), a broker formerly registered with Morgan Stanley, resigned from the firm, according to his BrokerCheck record, accessed on December 15, 2022. If you have questions about his alleged conduct as a broker, keep reading.

Resignation from Morgan Stanley

On October 10, 2022, Luis Bonilla resigned from Morgan Stanley following allegations that he failed to disclose client investment in his approved outside business activity and/or solicited client investments.

FINRA Rule 3270

FINRA Rule 3270 requires brokers to seek approval from their firm before engaging in outside business activities.

Other business activities

Luis Bonilla’s detailed BrokerCheck record lists the following outside business activities:

  • Passive investor in Construccion & Capital, an infrastructure construction company.
  • Investor, director, and partner of Mariel Drifter Productions, a film production company.

Investor Disputes

On March 28, 2016, an investor alleged that Luis Bonilla made unsuitable purchases of corporate bonds between 2013-2015, as well as other, unspecified allegations. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an external review. Investors can still pursue FINRA arbitration after a denial and may be able to recover their funds.

On March 26, 2015, an investor filed a dispute alleging, among other things, that Luis Bonilla made unsuitable exchange-traded fund (ETF) investments in her account from 2011-2014. The client sought $1 million in damages and received a settlement of $150,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains information about their age, tax status, and risk tolerance.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

Background Information

Luis Bonilla has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 65 – Uniform Investment Adviser Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 10 – General Securities Sales Supervisor – General Module Examination
  • Series 9 – General Securities Sales Supervisor – Options Module Examination

He previously worked for the following firms:

  • Morgan Stanley (CRD#:149777)
  • Wells Fargo Advisors (CRD#:19616)
  • First Union Brokerage Services (CRD#:8112)
  • Bersec International Corporation (CRD#:23530)

Kurta Law Can Help

If you worked with Luis Bonilla and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.