Florida Broker, Carlos Otalvaro, Fined and Suspended by FINRA

 

was fined $15,000, suspended from association with any FINRA member in any capacity for one year, and barred from association with any FINRA member in any principal capacity. This fine shall be due and payable upon Otalvaro’s return to the securities industry.

 

These sanctions were based on findings that Otalvaro willfully failed to disclose material information on his Form U4, willfully failed to update his Form U4 to disclose material information within the required time, and willfully filed amended Forms U4 that omitted material information.

 

The suspension is in effect from August 15, 2011 through August 14, 2012. (FINRA Case #2008011725901)

 

This information was obtained on FINRA's website's "Disciplinary Actions" for October, 2011.

Securities Attorney, Lars Soreide, of Soreide Law, PLLC, has represented clients nationwide. If you or a family member experienced losses  due to a stock broker’s or financial advisor’s recommendation, and/or in particular through Carlos Franscisco Otalvaro, call a Securities Arbitration Lawyer for a free consultation on how to potentially recover your losses.  To speak with an attorney, call 888-760-6552, or visit www.securitieslawyer.com.  

Soreide Law Group, PLLC., representing investors nationwide before FINRA  the Financial Industry Regulatory Authority.