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Nicolas Lumermann Indefinitely Suspended by FINRA

Nov 15, 2022 FINRA Suspension

Nicolas Lumermann (CRD #: 4627332), a broker formerly registered with Morgan Stanley, has been suspended by FINRA, according to his BrokerCheck record, accessed on October 23, 2022. If you want to know more about his conduct as a broker, keep reading.

Suspension by FINRA

On August 5, 2022, Nicolas Lumermann received a Letter of Suspension alleging that he failed to comply with an arbitration award/settlement agreement or failed to satisfactorily respond to a FINRA request as to the status of his compliance.

Nicolas Lumermann’s suspension will continue until the required payment is made or discharged. His suspension took effect on August 5, 2022.

FINRA Rule 9554

FINRA Rule 9554 penalizes brokers who fail to comply with arbitration awards or settlement agreements with a suspension or cancellation of their membership.

Settlement Agreement

On April 8, 2022, Nicolas Lumermann entered into a settlement agreement with Morgan Stanley, Morgan Stanley FA Notes Holdings (FA Notes Holdings), and Morgan Stanley Smith Barney Financing (MSSB Financing). 

In a claim initially filed on June 5, 2019, Nicolas Lumermann alleged that Morgan Stanley constructively terminated him without cause, and made allegations involving breach of contract, violation of the Family and Medical Leave Act (FMLA), misrepresentation, and fraud, among other things.

Also on June 5, 2019, Morgan Stanley and FA Notes Holdings filed a claim alleging that Nicolas Lumermann breached his contract, breached promissory notes, and engaged in unjust enrichment.

The settlement agreement obligated Nicolas Lumermann to pay Morgan Stanley and MSSB Financing $3,108,555.44 in damages and to pay them $411.47 per day starting on February 15, 2022, until the full amount of damages is paid.

You can read the full settlement agreement here.

Background Information

Nicolas Lumermann has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

He previously worked for the following firms:

  • Morgan Stanley (CRD#:149777)
  • Credit Suisse Securities (USA) (CRD#:816)
  • UBS International (CRD#:107726)

Kurta Law Can Help

If you worked with Nicolas Lumermann and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.