FINRA Sanctions Jorge Netto

Soreide Law Group is investigating possible investor claims against securities broker Jorge Antonio Netto [CRD: 2432661, Miami, Florida]. Notably, FINRA sanctioned the securities broker, who worked for Boreal Capital Securities LLC. Allegedly, Netto engaged in an undisclosed outside business activity. Here is a brief summary of FINRA’s allegations against Netto.

Boreal Capital Securities LLC Securities Broker Sanctioned by FINRA For Outside Business Activities

Evidently, FINRA issued Case: 2018058537302 on July 28, 2022, which contains sanctions against Jorge Netto for infractions. Allegedly, Netto engaged in an undisclosed outside business activity. Therefore, Netto was fined and suspended.

According to the Decision, Netto participated in two outside business activities without giving notice to his firm. Supposedly, he also provided false information concerning one of the outside business activities on an annual compliance questionnaire. Specifically, Netto was involved with a limited liability company called Sendero Investments that he formed with a business partner. Netto failed to disclose to his firm that he was a member and officer of Sendero. In 2018, Netto failed to disclose his involvement with Sendero on his annual compliance questionnaire. As a result, Netto violated FINRA Rules 2010 and 3270.

First Union Securities Inc. Investor Accused Jorge Netto Of Unauthorized Trading

Also, a First Union Securities Inc. client filed a complaint about Jorge Netto. Namely, the client alleged that Netto engaged in unauthorized trading. Because of this, the client allegedly sustained damages on options. Therefore, on July 5, 2001, First Union Securities Inc. settled this matter by paying the client $150,000 in damages.

Netto Disclosed Accusations By First Union Securities Inc. Client

Evidently, a client of First Union Securities Inc. contested Jorge Netto’s sales practices, according to a complaint dated August 31, 2001. Allegedly, Netto told the client that their losses would be limited if investments underperformed. Additionally, the client alleged that Netto did not contact them regarding margin calls. Supposedly, the options transactions resulted in damages. Therefore, the client asked for compensatory relief from First Union Securities Inc. or Netto in the amount of $110,441.33. However, the firm denied this complaint.

First Union Securities Inc. Investor Accused Jorge Netto Of Poor Performance

Additionally, a First Union Securities Inc. client filed a complaint about Jorge Netto. Namely, the client alleged that Netto recommended poorly performing investments and engaged in unauthorized trading. Because of this, the client allegedly sustained damages on equities. Therefore, on September 21, 2001, First Union Securities Inc. settled this matter by paying the client $80,000 in damages.

First Union Securities Inc. Securities Broker Discharged For Discretionary Trading

Evidently, First Union Securities Inc. terminated the registration of Netto on May 15, 2001. Allegedly, Netto made discretionary trades.

• Netto worked for Northeast Securities Inc. in Coral Gables, FL, as a securities broker from February of 2014 to May of 2017.
• Netto has worked for Boreal Capital Securities LLC in Miami, FL, as a securities broker since April 27, 2017.

Did Boreal Capital Securities LLC Securities Broker Jorge Netto Cause You To Experience Damages?

Have you experienced damages because of Jorge Netto? If so, reach out to Soreide Law Group at (888) 760-6552 and consult with a securities attorney about a possible recovery of your investment losses or other damages. Soreide Law Group, who has effectively recovered money for hundreds of investors in all 50 states, represents clients on a contingency fee basis and advances costs. Netto and brokerage firms Netto worked for deny any and all allegations of sales practice violations.