FINRA

Without admitting or denying the findings, Corona consented to the sanction and to the entry of findings that he refused to appear for FINRA on-the-record testimony requested in connection with an investigation into Corona's outside brokerage accounts.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All capacities

Indefinite

7/11/2019

Morgan Stanley Smith Barney

Discharged

Allegations that representative did not disclose outside brokerage accounts and initially denied that he had such accounts when asked.

I was a registered representative with Capital One Investing that had more lenient rules about external brokerage accounts. My compliance department had noticed that I had transfers going out of my brokerage account to fund another account and was asked about it. I let my compliance know that I had no idea as the amounts were small, but in speaking with my wife about it, she let me know that she had opened an external account with a self directed brokerage firm. She is not in the industry and was not aware that Morgan Stanley did not allow me to have external accounts. I closed all of my wife's external accounts and submitted proof. From there, I disclosed that it was more than one account that was opened and that I had not properly closed out other external accounts (despite there being no trading activity)and was terminated for not disclosing those accounts despite being advised by managers that they did not care if I had open external accounts as long as there was no trading in them.