Hector Rivera (CRD#: 4826616, San Juan, Puerto Rico) is an Oriental Financial Services Corp. general securities representative. Evidently, Hector Rivera joined Oriental Financial Services in its San Juan, Puerto Rico offices on January 25, 2016. However, Rivera’s suspicious sales practices have become a cause of concern for investors. Particularly, Rivera reports on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck that customers disputed his sales practices. Take a look at some of Hector Rivera’s recent disclosures:

April 25, 2019 Arbitration Claim Involving Hector Rivera, Allegations Of Fraud


A customer of Oriental Financial Services brought FINRA Arbitration #19-01151 on April 25, 2019. This concerns Hector Rivera’s potential misrepresentations and omissions of information concerning risks of closed end funds and municipal debt investments. Supposedly, the customer purchased these investments but sustained losses when the Puerto Rican economy became volatile. Secondly, the customer claimed that Rivera breached his fiduciary responsibilities, failing to act in the best interests of the investor. The customer additionally brought claims of breach of contract, negligence, and fraud. Because of this, the customer is demanding $500,000 in damages.

April 7, 2019 FINRA Arbitration Alleging Fraud, Unsuitable Recommendations


Likewise, FINRA BrokerCheck shows that FINRA Arbitration #18-04160, filed by an Oriental Financial Services customer, concerns Hector Rivera’s sales practices. Mainly, the customer alleged that Rivera overconcentrated the customer’s assets in municipal debt investments. Allegedly, the municipal debt investments were not suitable, and the overconcentration of the customer’s assets in those investments led to increased risks. Equally important, the customer claimed that Rivera’s investment transactions were fraudulent. Therefore, the customer demanded $95,000 in this pending matter.

Hector Rivera Subject Of October 19, 2018 Claim Alleging Misrepresentation, Negligence


Also, an Oriental Financial Services customer complained about Hector Rivera’s sales practices in filing FINRA Arbitration #18-03627. Namely, the October 17, 2018 Arbitration concerns Rivera’s sales of municipal debt investments. According to the customer, Rivera made unsuitable sales and misrepresented investments. That is, Rivera allegedly failed to discuss the risks of the investments he sold, and put the customer’s assets in investments that were incompatible with the customer’s risk tolerance. Moreover, the customer claimed that Rivera breached a contract, and transacted in the customer’s account in violation of his fiduciary duty. As a result, the customer alleged $95,000 in damages. Apparently, this matter is unresolved.

Oriental Financial Services Customer Brings Fraud Claim In Regard To Hector Rivera’s Sales


FINRA Arbitration #18-03056, filed August 28, 2018, raises allegations of Hector Rivera’s bad sales practices. Notably, the customer claimed that Oriental Financial Services failed to supervise Rivera’s sales of Puerto Rico securities including Popular Income Plus Fund. Allegedly, Rivera misled the customer about the risks of the investments. Not only that, but the customer raised claims of overconcentration, breach of fiduciary duty, and fraud. Therefore, the customer alleged $400,000 in damages. However, this claim is unresolved.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Experienced losses by investing with Oriental Financial Services securities broker Hector Rivera? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.