Securities Lawyers Blog
The securities attorneys at Gana Weinstein LLP represent investors in their disputes with brokerage firms, such as BBVA Securities Inc.. Our firm can analyze your accounts and investments in order to determine if there was any broker misconduct in the handling of your accounts. Our analysis can reveal whether an investor has been a victim of misconduct such as unsuitable investments, unauthorized trading, excessive trading, or investment fraud.
BBVA Securities is a broker-dealer that provides investment banking services, including securities originations, loan syndications, and project finance, along with institutional fixed income sales and repurchase agreement financing. Formed in Delaware in 1990, the firm is a wholly owned subsidiary of Banco Bilbao Vizcaya Argentaria, the global financial services group headquartered in Spain, and it self-clears its fixed income business as a member of the Fixed Income Clearing Corporation.
BBVA Securities Inc. – By the Numbers:
- CRD #: 27060
- Regulatory Events: 10
- Broker Employees: 211
BBVA Securities Inc. – In the News:
FINRA v. BBVA Securities Inc. (Case #2021070695401) – From at least March 2019 through August 2021, BBVA failed to establish and maintain a reasonably designed supervisory system, including written supervisory procedures (WSPs), for the surveillance of rates of deferred VA exchanges. The firm’s supervisory system did not include a determination of representatives’ rates of VA exchanges as required by FINRA Rule 2330(d). Accordingly, BBVA violated FINRA Rules 3110, 2330, and 2010.
FINRA v. BBVA Securities Inc. (Case #2022077355501) – Between July 2016 and January 2023, BBVA failed to include a required indicator on approximately 50,000 reports to FINRA’s Trade Reporting and Compliance Engine (TRACE) as required by FINRA Rule 6730. Accordingly, BBVA violated FINRA Rules 6730 and 2010. From July 2016 to the present, BBVA failed to establish and maintain a supervisory system, including written supervisory procedures, reasonably designed to achieve compliance with the TRACE reporting requirements of FINRA Rule 6730. Specifically, the firm failed to review its TRACE reports for accuracy, including to assess whether it had included required indicators. Accordingly, BBVA violated FINRA Rules 3110 and 2010.
Gana Weinstein LLP has successfully litigated broker disputes through verdict or settlement. We represent both individuals and institutions throughout the country in FINRA arbitration, as well as commercial litigation in state and federal courts. Our consultations are both free and thorough and our securities litigation attorneys can help you uncover wrongful activity in your account.