According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Fabio La rosa (La rosa), currently associated with Morgan Stanley, has at least one disclosable event. These events include one tax lien, alleging that La rosa recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on January 17, 2025.
Without admitting or denying the findings, La Rosa consented to the sanctions and to the entry of findings that he made unauthorized transactions by processing transfers of funds totaling $90,700 from the trust accounts established for two customers, a retired married couple, to their joint brokerage account upon instructions given to him by one of the customers, who was not authorized to direct transactions in the trust accounts. The findings stated that on the firm’s verbal authorization forms completed for these transfers, La Rosa inaccurately represented that he had spoken with the trustee of the trusts-i.e., the authorized individual for the trust accounts-when he had actually communicated with one of the customers. La Rosa did not earn any compensation for the transfers. The firm learned of the transfers after the trustee complained and it compensated the trusts for certain costs and expenses associated with the transfers.