Fernando Silva Terminated From Morgan Stanley Over Misappropriation Allegation

Fernando Silva (CRD# 7326519) is a former registered broker and investment advisor last employed with Morgan Stanley (CRD#:149777) of Tucson, AZ. His prior employer was Wells Fargo Clearing Services, LLC (CRD#:19616), also of Tucson. He has been in the business since 2021.

Morgan Stanley terminated Silva’s employment on 9/8/2022 amid concerns that had had misappropriated client funds. The firm filed a Uniform Termination Notice for Securities Industry Registration (Form U5) on 9/23/2022 with the same allegation of misappropriation.

Upon receipt of the Form U5 from Morgan Stanley, FINRA began an investigation based on the information provided. On 10/14/2022 and 11/1/2022, FINRA sent requests for information to Silva regarding the investigation into the Form U5 allegations. In an email correspondence on November 14, 2022, Silva stated for the record that he would at no time provide any of the requested information.

On 12/1/2022, Silva e-signed a Letter of Acceptance, Waiver & Consent (AWC) acknowledging the sanction of being indefinitely barred from any affiliation with any FINRA member in any capacity, effective 12/6/2022.

FINRA Investigations

FINRA operates the largest securities dispute resolution forum in the United States, but that’s not all FINRA does. When a broker or investment advisor doesn’t work within the laws, rules and regulations that governs the securities industry, FINRA also conducts an investigation.

Just like Fernando Silva, FINRA investigates thousands of irregularities and wrongdoing by brokers and financial advisors when a firm terminates them for cause. The Form U5 is used when a broker leaves a firm for any reason, including taking a new job elsewhere. A Form U5 can also be amended or updated later as needed.

When a firm discharges someone for misconduct, that information is included on the Form U5. From there, FINRA will begin investigating the claim, and will ask the broker for more information. Even if the person is no longer working as a broker, they are still subject to FINRA’s regulators for at least two years.

Did You Invest With Fernando Silva?

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