Sarasota, FL, Rep Fined and Suspended by FINRA

Myrron Marcos Martinez (CRD #4369254, Registered Representative, Sarasota, Florida)

was fined $5,000 and suspended from association with any FINRA member in any capacity for four months. Without admitting or denying the findings, Martinez consented to the described sanctions and to the entry of findings that he participated in an outside business activity without providing his member firm with prior written notice.

FINRA's findings stated that Martinez recommended that a firm customer invest in a company and a business venture that Martinez’s friends owned, hoping to become their financial adviser and earn commissions in the future in the event their businesses became successful.

These findings also stated that the customer had invested $240,000 total in promissory notes Martinez’s friends issued. Martinez’s friends did not repay the customer any portion of the $240,000 investment in the promissory notes.

FINRA's findings also included that Martinez used his personal email account to send emails to the customer to promote one of the investments, knowing that the firm’s procedures required him to use his firm email account for all business communications with clients, circumventing his firm’s supervisory procedures.

This suspension is in effect from June 4, 2012, through October 3, 2012. (FINRA Case #2010024888001)

This information was listed on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2012.”

Soreide Law Group, PLLC, has represented clients nationwide. Call for a free consultation on how to potentially recover your losses. To speak with an attorney call 888-760-6552, or visit our website at: https://www.securitieslawyer.com.