FINRA Bars Jimmy Oswald Moscoso Over Allegations Of Improper Use of Customer Funds

FINRA has permanently barred Jimmy Oswald Moscoso (CRD#2912265) in the fourth disclosure of his record as a previously registered broker. He was last employed with Lincoln Financial Advisor Corporation of Boca Raton, FL, from 03/05/2015 to 01/31/2018. He was previously employed by Putnam Retail Management Limited Partnership (CRD# 7325), of Boston, MA, from 03/18/1998 through 06/01/2004.

Moscoso was barred from acting as a broker, or otherwise associating with a FINRA broker-dealer firm in any capacity. This bar became effective on 02/14/2018, is indefinite and bars him from functioning as a broker in “all capacities.” While Moscoso neither denied nor admitted to the allegations, he consented to the sanctions and to the findings.

It was discovered that an elderly customer offered to invest in an alleged real estate deal, and gave Moscoso a check for $20,000 for the deal. The check was made out to the name of Moscoso’s business. He signed then deposited the check into an account he had control over, and used the funds for his own personal use. Moscoso violated FINRA Rules 2150(a) and 2010 governing this kind of transaction.

When the firm, Lincoln Financial Advisor Corporation, discovered the transaction, it reimbursed the customer, and Moscoso reimbursed the firm. Lincoln then terminated Moscoso’s employment on 1/11/2018 and ended his firm registration.

Moscoso signed an Acceptance, Waiver And Consent (AWC) letter on 02/08/2018, and it was accepted on 02/11/2018 by Julie A. Lenaghan, Principal Counsel for FINRA’s Department of Enforcement in Rockville, MD.

Moscoso also has two prior financial disclosures on his record:

• 11/18/2014, a financial “compromise” is still listed as “pending,” with the note: “it was agreed with the creditor to allow for monthly payments, however this amount could be paid in full anytime without affecting this payment plan.” No other details are available from BrokerCheck.
• A bankruptcy discharge on 08/07/2008. No other details are available from BrokerCheck.

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