According to FINRA’s Disciplinary and Other FINRA Actions publication, Michael Vincent Borja (CRD #5451360) formerly of Wells Fargo Advisors, LLC was fined $5,000 and suspended for 45 days by FINRA for processing wire transfer requests without first obtaining verbal confirmation from the client.
FINRA’s findings allege that Borja falsely represented in the Firm’s records that he verbally confirmed the wire requests with the customer and also provided fictitious reasons for the customer’s transfer requests. As a result of such actions, FINRA alleged that Borja caused his FINRA regulated broker-dealer to maintain false books and records concerning these wire transfer requests.
According to FINRA’s Broker Check, Borja is not currently licensed to act as a broker or as an investment adviser. The suspension is in effect from February 2, 2015, through March 18, 2015. (See FINRA AWC No. 2013037029901)
Michael Vincent Borja was licensed in the securities industry for 5 years with the following firm(s):
WELLS FARGO ADVISORS, LLC
CRD #19616
MIAMI, FL
01/2012 – 05/2013
OPPENHEIMER & CO. INC.
CRD #249
MIAMI, FL
02/2009 – 01/2012
UBS INTERNATIONAL, INC.
CRD #107726
CORAL GABLES, FL
02/2008 – 02/2009
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