Saturday, June 3, 2017

FINRA bars former Morgan Stanley broker over $190M Venezuela bond trades

FINRA bars former Morgan Stanley broker over $190M Venezuela bond trades



"A former Morgan Stanley broker who had been one of the largest producers in the firm’s New York branch has been banned from the industry under a settlement with FINRA.



John Batista Bocchino secretly made 300 Venezuelan currency bond trades worth $190 million after the firm forbade such transactions out of concerns about money laundering, according to FINRA.



The regulator announced settlements this week with Bocchino and his former sales assistant."




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