FINRA Sanctions Jorge Sonville

Soreide Law Group is investigating possible investor claims against securities broker Jorge Sonville AKA Jorge Antonio Sonville [CRD#: 2558540, Miami, FL]. Notably, FINRA sanctioned the securities broker, who worked for Merrill Lynch Pierce Fenner Smith. Allegedly, Sonville loaned a client money. Here is a brief summary FINRA’s allegations against Sonville.

FINRA Sanctions Merrill Lynch Pierce Fenner Smith Securities Broker Jorge Sonville For Client Loan

Evidently, FINRA issued Case #: 2020068256101 on June 7, 2022 sanctioning Jorge Sonville for infractions. Allegedly, Sonville loaned a client money. Therefore, on June 7, 2022, FINRA issued a six-week suspension and a $5,000 fine.

Supposedly, in February 2018, Sonville loaned a client money without notifying the firm or obtaining written authorization during the time that Sonville was associated with Merrill Lynch, Pierce, Fenner & Smith (Merrill Lynch). Specifically, Sonville loaned a firm client $65,000.00 to help the client pay personal expenses. When Sonville made the loan, Merrill Lynch did not allow representatives to loan clients money. Sonville never notified Merrill Lynch about the loan and did not receive permission from the firm to conduct the transaction. Further, in 2018, Sonvilled falsely stated in a compliance questionnaire that he had not loaned money to any clients. Sonville violated FINRA Rules 2010 and 3240 as a result.

Merrill Lynch Pierce Fenner Smith Disaffiliates With Securities Broker For Unauthorized Activities

Also, Jorge Sonville worked for Merrill Lynch Pierce Fenner Smith. However, Merrill Lynch Pierce Fenner Smith disaffiliated with Sonville. Namely, Merrill Lynch Pierce Fenner Smith alleged that Sonville participated in an undisclosed financial transaction with a client.

Merrill Lynch Pierce Fenner Smith Investor Accuses Jorge Sonville Of Unsuitable Recommendations

Evidently, on November 24, 2020, a Merrill Lynch Pierce Fenner Smith client filed FINRA Arbitration #: 20-03898 about Jorge Sonville. Notably, the client alleged that Sonville made unsuitable recommendations. Because of this, the client sustained damages on real estate transactions. Therefore, the client requested $4,000,000 in compensation from Merrill Lynch Pierce Fenner Smith or Sonville. Evidently, this arbitration is pending a resolution.

Sonville Discloses Failure To Follow Instructions Allegations By Merrill Lynch Pierce Fenner Smith Client

Also, a client of Merrill Lynch Pierce Fenner Smith contested Jorge Sonville’s sales practices, according to a complaint. Allegedly, Sonville failed to follow the client’s instructions. Supposedly, the investments which Sonville sold or recommended had caused the client to sustain damages. Therefore, Merrill Lynch Pierce Fenner Smith opted to settle the matter on December 16, 1998 by compensating the client in the amount of $6,000.

Recent Employer Information

Jorge Sonville worked for Insigneo Securities in Miami, FL, as a securities broker from July 19, 2021 to July 1, 2022.

Did Merrill Lynch Pierce Fenner Smith Securities Broker Jorge Sonville Cause You To Experience Damages?

Have you suffered damages because of investing through Jorge Sonville? If so, contact Soreide Law Group at (888) 760-6552 and speak with a securities attorney about a possible recovery of your investment losses. Soreide Law Group, who has successfully recovered money for investors throughout the United States, represents clients on a contingency fee basis and advances all costs. Sonville and brokerage firms Sonville was employed by deny any and all allegations of sales practice violations.