Soreide Law Group, based in South Florida, obtained the following information from FINRA’s May 2018 Disciplinary Report.
Ricardo Alfredo Estrada (CRD #4130208, Coral Gables, Florida)
was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for two months following allegations that he engaged in an outside business activity without seeking or receiving prior written approval from his member firm.
FINRA’s findings stated that Estrada allegedly failed to disclose that he formed a corporate entity to earn finder’s fees, invest in real estate and invest in small start-up companies.
In connection with this activity, Estrada received approximately $7,575 in finder-fee compensation. In addition, Estrada failed to disclose this outside business activity on firm compliance questionnaires for two years.
The suspension was in effect from March 19, 2018, through May 18, 2018.
(FINRA Case #2017053902501)
According to FINRA’s BrokerCheck, available to the public online on FINRA’s website, Ricardo Alfredo Estrada, has 2 Disclosures on his report. One of the Disclosures is an “Employment Separation After Allegations.” MML Investors Services of Miami discharged Estrada on 3/29/2017 following the allegations: “Terminated in connection with undisclosed outside transaction.”
Ricardo Estrada has 14 years of experience in the securities industry and was listed with the following 2 firms:
08/05/2014 - 04/13/2017 MML INVESTORS SERVICES LLC - MIAMI, FL
07/22/2002 - 06/02/2014 NORTHWESTERN MUTUAL INVESTMENT SERVICES LLC - AVENTURA, FL
If you experienced financial losses due to the actions or recommendations of Ricardo Alfredo Estrada, formerly with MML Investors Services of Miami, contact Soreide Law Group, conveniently based in South Florida, and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents our clients nationwide before FINRA, and we operate on a contingency fee basis.
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