FINRA

Without admitting or denying the findings, Ramos consented to the sanctions and to the entry of findings that he made unsuitable recommendations to a customer that was unemployed, disabled, living on a fixed income, and had limited investment experience. The findings stated that Ramos recommended that the customer invest primarily in speculative energy sector securities, despite the volatility of the energy market, the volatility of the specific securities, and the customer's investment profile, Ramos repeatedly recommended that the customer increase her positions in energy sector securities, including additional energy sector securities. The customer realized losses totaling $86,891.

Acceptance, Waiver & Consent(AWC)

Restitution

$50,000.00

Suspension

All capacities

Three months

6/15/2020

9/14/2020

Undertaking

In light of Ramos' financial status, no monetary sanction has been imposed. Within 60 days of his reassociation with any FINRA member firm, Ramos will undertake to attend and satisfactory complete 10 hours of continuing education concerning suitability by a provider not unacceptable to FINRA. Within 30 days following completion of such training. Ramos will submit written proof that the continuing education program has been satisfactorily completed.

$168,294.84

Civil

FINRA

Without admitting or denying the findings, Ramos consented to the sanction and to the entry of findings that he lent $10,000 to a customer of his member firm, when Ramos neither requested nor received firm permission to lend the money. The findings stated that in fact, the firm policy prohibited Ramos from lending the money.

Acceptance, Waiver & Consent(AWC)

Suspension

Any capacity

20 business days

10/3/2016

10/28/2016

In light of Ramos' financial status, no monetary sanction has been imposed.

This regulatory matter concludes a FINRA inquiry regarding allegations made on June 12, 2014 of the improper use of a $10,000.00 check made to a firm client. The true purpose of said check was for a personal loan made to intimate family friend who was also a client of the firm. Client allegations that I paid them $10,000.00 to cover losses and to deter them from making a complaint were unfounded and without merit

MORGAN STANLEY SMITH BARNEY

Discharged

CONCERNS RELATED TO (1) A CHECK WRITTEN BY THE EMPLOYEE TO A FIRM CLIENT AND (2) EMPLOYEE'S NON-DISCLOSURE OF AN OUTSIDE INCIDENT INVOLVING THE EMPLOYEE AS REQUIRED BY FIRM POLICY.

CLIENTS ALLEGED THAT THE FA RECOMMENDED UNSUITABLE INVESTMENTS, AND THEN PAID THEM $10,000 TO COVER LOSSES SO THEY WOULD NOT MAKE A COMPLAINT.

$700,000.00

$120,000.00

MR. RAMOS DENIES ALL OF CUSTOMER'S CLAIMS OR ALLEGATIONS OF WRONGDOING. I DID NOT PARTICIPATE AND WAS NOT ASK TO PROVIDE ANY MONETARY COMPENSATION."