ALEJANDRO FALLA of Formerly of BAC FLORIDA INVESTMENTS BARRED by FINRA

The South Florida-based Soreide Law Group (888-760-6552) obtained the following information on FINRA’s website:
ALEJANDRO FALLA (ALEJANDRO FALLA CARRASCO) (CRD #5064828, Miami, Florida)
According to FINRA’s BrokerCheck, in September 2016, ALEJANDRO FALLA was named a respondent in a FINRA complaint alleging that as the Chief Executive Officer and head trader of BAC FLORIDA INVESTMENTS, he willfully violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and FINRA Rules 2020 and 2010 by charging the firm's clients undisclosed markups and markdowns in fixed income transactions. Falla was later fined $60,000 and suspended from association with any FINRA member in any capacity for 18 months.
In February 2017, without admitting or denying the findings, Falla consented to the sanction and to the entry of findings that he failed to disclose the use of non-market foreign exchange (FX) rates in connection with a series of bond swap transactions in retail client accounts. FINRA’s findings stated that Falla's member firm, BAC FLORIDA INVESTMENTS, operating through Falla, executed numerous retail client transactions with inaccurate valuations when converted into U.S. dollars, which affected multiple client accounts. ALEJANDRO FALLA either manually or caused the firm personnel to input non-market FX rates for bond swap transactions in his client accounts.
Also, FINRA found that BAC FLORIDA INVESTMENTS, acting through Falla, failed to establish and maintain a supervisory system and further failed to establish, maintain and enforce written supervisory procedures (WSPs) for the firm that were reasonably designed to identify and prevent the use of non-market FX rates, excessive markups, short-term trading, undue concentration and unsuitable use of margin in customer accounts.
FINRA has permanently barred ALEJANDRO FALLA from acting as a broker or otherwise associating with firms that sell securities to the public. ALEJANDRO FALLA was registered in the securities industry for 7 years and has been listed with 2 firms:
03/01/2013 - 10/02/2014  BAC FLORIDA INVESTMENTS - CORAL GABLES, FL
05/12/2006 - 06/11/2012  ULTRALAT CAPITAL MARKETS INC - MIAMI, FL
If you were a client of ALEJANDRO FALLA and/or BAC FLORIDA INVESTMENTS of Coral Gables, Florida, and experienced losses due to the actions or recommendations, contact the South Florida-based Soreide Law Group for a no-cost consultation regarding the possible recovery of your investment losses at:  888-760-6552.
Soreide Law Group operates on a contingency fee basis and we represent our clients nationwide before FINRA.