FINRA Sanctions Ramiro Colon

Soreide Law Group is investigating possible investor claims against securities broker Ramiro Colon AKA Ramiro Luis Colon Ortiz III [CRD#: 1868710, Miami, FL]. Evidently, FINRA sanctioned the securities broker, who worked for UBS Financial Services. Allegedly, Colon utilized unauthorized communication channels to conduct investment related business. Here is a brief summary FINRA’s allegations against Colon.

FINRA Sanctions UBS Financial Services Securities Broker For Unauthorized Activities

Evidently, on June 14, 2022, FINRA issued Case #: 2020066275801 sanctioning Ramiro Colon for infractions. Specifically, FINRA imposed a one-month suspension and a $5,000 fine. Notably, FINRA alleged that Colon utilized unauthorized communication channels to conduct investment related business.

Supposedly, from September 2018 through April 2020, Colon utilized an unauthorized third-party communication application to correspond with a firm client concerning securities-related business while he was associated with UBS Financial Services Inc. Specifically, during that time period, Colon used WhatsApp to send hundreds of messages to firm clients about securities-related matters despite knowing that he was only permitted to communicate with clients through firm-approved systems. WhatsApp was not a firm-approved communication system. Colon's conduct caused UBS to maintain incomplete records and books. Colon violated FINRA Rules 2010 and 4511 as a result.

UBS Financial Services Securities Broker Ramiro Colon Sanctioned By SEC For Failure To Supervise

Also, SEC issued Case #: 3-16847 on September 29, 2015 sanctioning Ramiro Colon for infractions. Allegedly, Colon failed to supervise. Therefore, on September 29, 2015, SEC issued a twelve-month suspension and a $25,000 fine.

Colon Discloses Failure To Supervise Allegations By UBS Financial Services Client

Evidently, a client of UBS Financial Services contested Ramiro Colon’s sales practices by filing FINRA Arbitration #: 20-03894 on November 24, 2020. Allegedly, Colon failed to supervise. Supposedly, the closed-end funds and municipal bonds which Colon sold or recommended had caused the client to sustain damages. Therefore, the client seeks compensatory relief from UBS Financial Services or Colon in the amount of $1,421,565.59 in this ongoing matter.

UBS Financial Services Investor Accuses Ramiro Colon Of Sales Practice Violations

Also, on June 5, 2020, a UBS Financial Services client filed a complaint about Ramiro Colon. Namely, the client alleged that Colon committed sales practice violations. Because of this, the client sustained damages on investment accounts. Therefore, the client requested compensation from UBS Financial Services or Colon. Evidently, this complaint is pending a resolution.

Colon Accused Of Failure To Supervise At UBS

Also, a client of UBS Financial Services contested Ramiro Colon’s sales practices by filing FINRA Arbitration #: 19-03076. Allegedly, Colon failed to supervise. Supposedly, the closed-end funds and municipal bonds which Colon sold or recommended had caused the client to sustain damages. Therefore, UBS Financial Services opted to settle the matter on October 28, 2019 by compensating the client in the amount of $32,475.

UBS Financial Services Investor Accuses Ramiro Colon Of Failure To Supervise

Evidently, a UBS Financial Services client filed FINRA Arbitration #: 19-02654 about Ramiro Colon. Notably, the client alleged that Colon failed to supervise. Because of this, the client sustained damages on closed-end funds. Therefore, on September 20, 2019, the client asked UBS Financial Services for $110,000. However, the client withdrew this complaint.

Colon Discloses Unsuitable Recommendations Accusations By UBS Financial Services Client

Also, a client of UBS Financial Services contested Ramiro Colon’s sales practices by filing FINRA Arbitration #: 19-02479. Allegedly, Colon made unsuitable recommendations. Supposedly, the closed-end funds which Colon sold or recommended had caused the client to sustain damages. Therefore, UBS Financial Services opted to settle the matter on August 26, 2019 by compensating the client in the amount of $300,000.

Recent Employer Information

Ramiro Colon worked for UBS Financial Services in Miami, FL, as a financial advisor from September 8, 2015 to May 28, 2021.

Ramiro Colon worked for UBS Financial Services in Miami, FL, as a securities broker from November 7, 2006 to May 28, 2021. Colon has been employed by ACP Securities in Miami, FL, as a securities broker since July 2, 2021.

Did UBS Financial Services Securities Broker Ramiro Colon Cause You To Experience Damages?

Have you sustained damages because of investing through Ramiro Colon? If so, get in touch with Soreide Law Group at (888) 760-6552 to talk with a securities attorney about a possible recovery of your investment losses. Notably, Soreide Law Group has successfully recovered money for investors in all 50 states. The firm represents clients on a contingency fee basis and advances all costs. Colon and brokerage firms Colon was employed by deny any and all allegations of sales practice violations.