Popular Securities, Inc. nka Popular Securities, LLC (CRD #8096, San Juan, Puerto Rico)
was censured and fined $125,000 for alleged failure to establish, maintain, and enforce a supervisory system and procedures reasonably designed to identify and review concentrated securities purchases, including PR municipal bonds and PR closed-end funds.
FINRA's findings stated that when the PR general obligation bond rating was downgraded, the Popular Securities’s customers continued purchasing concentrated positions of PR securities. Popular Securities’ WSPs did not outline the steps that Popular Securities should have taken to review its customers’ securities purchases for concentration, and apart from a procedure that required quarterly reviews of “elderly” customer accounts for concentration of one product in the client’s account, Popular Securities did not establish, maintain, or enforce any systems or procedures that required supervisors to review for concentrated purchases, including PR securities, or document their reviews.
(FINRA Case #2013035309401)
This summation of information appeared on FINRA's website, "Disciplinary and Other FINRA Actions February 2015."
Soreide Law Group (https://www.securitieslawyer.com) is currently representing clients with significant losses in their Puerto Rico Bond investments, both nationally and internationally. Call Soreide Law Group (888) 760-6552 for a free consultation on how you may be able to recover your losses.
Investors potentially experienced sales practice violations by securities broker Matthew R. Carbray [CRD: 4565811, Northampton, Massachusetts], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Carbray has worked for Kestra Investment Services LLC since July 21, 2006, and Kestra Advisory Services LLC since April 19, 2016. Continue reading to learn more about Carbray’s […]
Investors apparently complained about securities broker Juan Pablo Benavides [CRD: 4288007, Miami, Florida], given the public information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Benavides has worked for Merrill Lynch as a securities broker since November 22, 2000, and as a financial advisor since March 15, 2004. See below to find out more about […]
Investors potentially incurred losses because of securities broker Sandy Meyer Leff [CRD: 1796695, Atlanta, Georgia], according to information disclosed through Financial Industry Regulatory Authority (FINRA) BrokerCheck. Leff has worked for Carter Terry Company Inc. as a securities broker since October 6, 2016, and as a financial advisor since October 21, 2016. Keep reading to discover […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com