Securities Investigation – Jimmy O. Moscoso

According toThe Financial Industry Regulatory Authority (FINRA), the regulator has barred Jimmy O. Moscoso (CRD # 2912265, Boca Raton, FL) from the securities industry.

According to the Letter of Acceptance, Waiver and Consent dated February 2018, in November 2017, while associated with Lincoln Financial, Moscoso allegedly converted customer funds in violation of FINRA Rules 2150(a) and 2010.

According to FINRA, an elderly customer allegedly agreed to invest $20,000 in a purported real estate investment and purportedly gave Moscoso a check for $20,000 made payable to the name of a business owned by Moscoso.

Moscoso allegedly endorsed the check, deposited it into a bank account he controlled, and purportedly used the funds for his own personal use.

According to his BrokerCheck report, Moscoso was registered with Lincoln Financial Advisors Corporation in Boca Raton, FL from March 2015 until he was terminated in January 2018 because he “personally used the funds of one of his clients for his own benefit.”  He has three disclosure events listed on his broker report.

For FINRA’s full findings see FINRA case #2018057246701.

Failure to Supervise

Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.

When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.

Free Consultation

Are you concerned about investments you made with Jimmy O. Moscoso? If so, the attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.

The foregoing information, which is all publicly available, is being provided by The White Law Group.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information, please visit our website, www.whitesecuritieslaw.com.