Investors Sue Morgan Stanley For Unsuitable Bond Recommendations
Ian M. Deliz Morales of Tampa Florida a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim in which the customer requested $750,000.00 in damages based upon allegations that from August of 2014 to September of 2019, the customer had been placed into closed end fund and municipal debt products which failed to be suitable given the customer’s goals or risk tolerance. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02923 (Sept. 27, 2019).
FINRA Public Disclosure reveals that Deliz is referenced in twenty-six additional customer initiated investment related disputes which pertain to accusations of his violative conduct while employed with securities broker dealers including Popular Securities LLC. Specifically, Deliz was subject of a customer initiated investment related arbitration claim where the customer was awarded $173,537.00 in damages based on Popular Securities being found liable on the customer’s causes of action including market manipulation, violation of securities laws and FINRA rules; unauthorized trading; unsuitability; breach of fiduciary duty; breach of contract; negligence; and misrepresentation as it pertained to Deliz’s recommendations of Puerto Rico closed end funds and bonds. FINRA Arbitration No. 16-00629 (Oct. 18, 2018).
Deliz is referenced in another customer initiated investment related arbitration claim in which the customer sought $400,000.00 in damages supported by allegations of inappropriate investment recommendations being made to the customer concerning the purchase and retention of Puerto Rican closed end funds and municipal debt instruments. FINRA Arbitration No. 19-00577 (Feb 25, 2019).
Also, a customer filed an investment related arbitration claim regarding Deliz’s conduct where the customer requested $315,000.00 in damages founded on accusations that the customer had been advised to purchase and hold securities that contained risks exceeding the level that the customer was willing to take according to the customer’s account documentation; and the customer sustained unwarranted losses because of Deliz’s recommendations. FINRA Arbitration No. 19-01512 (May 30, 2019).
Deliz is the subject of yet another customer initiated investment related arbitration claim in which the customer sought $290,853.14 in damages based upon allegations of bad advice by Deliz in regard to the customer’s Puerto Rican investments especially given the financial volatility experienced by the Commonwealth of Puerto Rico. FINRA Arbitration No. 19-02114 (July 30, 2019). On August 27, 2019, two more customers filed investment related arbitration claims involving Deliz’s conduct where they collectively requested $755,000.00 in damages supported by accusations of Deliz’s bad investment advice.
Deliz’s employment with Morgan Stanley has been terminated as of October 31, 2016.