This information appeared on FINRA’s website under “Disciplinary and Other Actions, August, 2013.”
Juan Carlos Parets (CRD #4839759, Registered Representative, New York, New York)
was suspended from association with any FINRA member in any capacity for 18 months and ordered to pay $30,000 in restitution to customers, and based on Juan C. Parets’ demonstration of a limited ability to pay full restitution. Without admitting or denying the allegations, Juan Parets consented to the described sanctions and to the entry of findings that he made misstatements and omitted facts in connection with the offer and sale of promissory notes to investors.
FINRA's findings stated that the misstatements and omissions concerned facts for investors, including the actual financial condition of the company offering the notes, the safety of the investment and Juan Parets’ own lack of understanding of the company’s financial condition.
These findings also stated that Juan Parets failed to conduct a reasonable investigation of the issuer of the notes to determine whether the securities were suitable for recommendation to his clients, and the risk or rewards of the investment.
FINRA also found that Parets did sell unregistered notes to customers, which constituted an unregistered distribution of securities and did not qualify for an exemption from registration. Parets sold the notes to unaccredited investors.
The suspension is in effect from July 1, 2013, through December 31, 2014. (FINRA Case #2011026346206)
Juan Carlos Parets was previously registered with FINRA at the following brokerage firms according to the information on FINRA's BrokerCheck:
JOHN CARRIS INVESTMENTS LLC
CRD# 145767
NEW YORK, NY
02/2012 - 09/2012
JOSEPH GUNNAR & CO. LLC
CRD# 24795
NEW YORK, NY
09/2010 - 02/2012
WESTROCK ADVISORS, INC.
CRD# 114338
NEW YORK, NY
10/2004 - 09/2010
This ends the information obtained on FINRA’s website.
Call Soreide Law Group for a free consultation with an attorney on how to potentially recover your investment losses recommended by your broker or financial advisor: 888-760-6552.
This information appeared on FINRA’s website under “Disciplinary and Other Actions, August, 2013.”
Juan Carlos Parets (CRD #4839759, Registered Representative, New York, New York)
was suspended from association with any FINRA member in any capacity for 18 months and ordered to pay $30,000 in restitution to customers, and based on Juan C. Parets’ demonstration of a limited ability to pay full restitution. Without admitting or denying the allegations, Juan Parets consented to the described sanctions and to the entry of findings that he made misstatements and omitted facts in connection with the offer and sale of promissory notes to investors.
FINRA's findings stated that the misstatements and omissions concerned facts for investors, including the actual financial condition of the company offering the notes, the safety of the investment and Juan Parets’ own lack of understanding of the company’s financial condition.
These findings also stated that Juan Parets failed to conduct a reasonable investigation of the issuer of the notes to determine whether the securities were suitable for recommendation to his clients, and the risk or rewards of the investment.
FINRA also found that Parets did sell unregistered notes to customers, which constituted an unregistered distribution of securities and did not qualify for an exemption from registration. Parets sold the notes to unaccredited investors.
The suspension is in effect from July 1, 2013, through December 31, 2014. (FINRA Case #2011026346206)
Juan Carlos Parets was previously registered with FINRA at the following brokerage firms according to the information on FINRA's BrokerCheck:
JOHN CARRIS INVESTMENTS LLC
CRD# 145767
NEW YORK, NY
02/2012 - 09/2012
JOSEPH GUNNAR & CO. LLC
CRD# 24795
NEW YORK, NY
09/2010 - 02/2012
WESTROCK ADVISORS, INC.
CRD# 114338
NEW YORK, NY
10/2004 - 09/2010
This ends the information obtained on FINRA’s website.
Call Soreide Law Group for a free consultation with an attorney on how to potentially recover your investment losses recommended by your broker or financial advisor: 888-760-6552.
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