Alyssa Jeanette Rakovich of Sarasota, Florida, a stockbroker formerly registered with Morgan Stanley, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she engaged in unapproved outside business activities. Letter of Acceptance, Waiver and Consent, No. 2015047359101 (Nov. 21, 2017).

According to the AWC, between December 29, 2014 and October 9, 2015, during the time that Rakovich was associated with Morgan Stanley, she participated in outside business activities, where she was provided $32,500.00 in compensation through her consultative services.

The AWC stated that outside business activities could not be engaged in by registered representatives unless written authorization was provided by Morgan Stanley, according to Morgan Stanley’s written supervisory procedures. The AWC stated approval was never attempted by Rakovich, nor obtained to warrant her outside consultative services.

Additionally, the AWC revealed that Rakovich failed to be forthcoming regarding her activities when the firm questioned her on February 19, 2015. Consequently, FINRA found that Rakovich’s conduct was violative of FINRA Rules 2010 and 3270.

Rakovich was fired by Morgan Stanley on October 9, 2015, supported by accusations that she engaged in undisclosed outside business activities. Since February 19, 2016, she has been employed with Advisory Group Equity Services Ltd.

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