Luiz Fernando Boruchowski (CRD #4369486) Has an Employment Separation Disclosure on FINRA BrokerCheck

Luiz Fernando Boruchowski (CRD #4369486) is a broker with an employment separation disclosure on FINRA BrokerCheck. We reviewed his BrokerCheck report on February 18, 2026. It reflects one termination disclosure. If you invested with Luiz Fernando Boruchowski and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Employment Separation

Luiz Boruchowski’s FINRA BrokerCheck Report reflects one employment separation after allegations disclosure. A summary is below:

On December 2, 2025, Luiz Boruchowski was discharged by Morgan Stanley. Luiz Boruchowski’s FINRA BrokerCheck report states the allegations involved a failure to escalate information. The activity involved a customer’s unlicensed money exchange activity. The report also states there were discrepancies in information provided to the firm about that activity. BrokerCheck lists the product type as no product and states no customer harm was identified.

Rule Summary #1: FINRA Rule 3110 (Supervision)

FINRA Rule 3110 requires firms to maintain a supervisory system. It should be designed to achieve compliance with securities laws and FINRA rules. When a termination cites compliance concerns, investors may ask what escalation steps were required.

Rule Summary #2: FINRA Rule 2010 (Commercial Honor)

FINRA Rule 2010 requires members to observe high standards of commercial honor and just and equitable principles of trade. Employment separations can prompt questions about whether conduct met those standards.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on His FINRA BrokerCheck report, Luiz Boruchowski:

Is currently employed by and registered with Andbanc Advisory LLC and Andbanc Brokerage, LLC.

Is registered with 1 self-regulatory organization and is licensed in 20 U.S. states and territories.

Has passed 3 general industry/product exams and 2 state securities law exams.

Was previously registered with firms that include Morgan Stanley, Wells Fargo Advisors, LLC, and Prudential Securities Incorporated.

Kurta Law Can Help

If you have worked with Luiz Boruchowski and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorneys | Securities Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.