Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Toni Nieves (Nieves), previously associated with Oppenheimer & CO. INC., has at least one disclosable event. These events include one customer complaint, alleging that Nieves recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $200,000.00 on April 23, 2021.

Claimant alleges a failure to liquidate securities was unsuitable and resulted in losses. March 2020 to April 2020

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jorge M. Pelegrina (Pelegrina), previously associated with UBS Financial Services INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Pelegrina recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $949,000.00 on April 26, 2021.

Time frame: Unspecified\, Claimants allege that the recommendation to invest in and hold Puerto Rico closed-end funds was unsuitable and that their accounts were over-concentrated in these investments. They also allege that the risks of investing in Puerto Rico investments were misrepresented.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Hong Pan (Pan), previously associated with Citigroup Global Markets INC., has at least one disclosable event. These events include one customer complaint, alleging that Pan recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $5,000.00 on April 29, 2021.

Customer alleges suitability with managed account investment. Activity Date Feb 4, 2021.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Victoria Staudinger (Staudinger), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Staudinger recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,440,833.33 on April 30, 2021.

The customers allege that beginning in February 2016, as a result of misrepresentations and without full disclosure, they set up trusts, funded by life insurance, and donor-advised funds that promised substantial charitable deductions that would reduce federal income taxes.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Roberto Maldonado (Maldonado), currently associated with Independent Financial Group, LLC, has at least 3 disclosable events. These events include 3 customer complaints, alleging that Maldonado recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $440,000.00 on April 28, 2021.

Client alleges overconcentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, negligent supervision (Puerto Rico closed-end funds). Includes request for rescission, punitive damages, interest, costs, fees.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Johnson (Johnson), currently associated with Fidelity Brokerage Services LLC, has at least one disclosable event. These events include one customer complaint, alleging that Johnson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on May 03, 2021.

Client alleges, inter alia, unsuitability with respect to investments – 2011-2016 Damages unspecified

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jam Manauchehri (Manauchehri), previously associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Manauchehri recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on April 30, 2021.

Claimant alleges that he did not authorize the margin positions that were taken in his investment account.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Stephen Taylor (Taylor), currently associated with Msec, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Taylor recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $150,000.00 on April 26, 2021.

Claimant alleges misrepresentation associated with the sale of alternative investments in 2012.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Destefano (Destefano), currently associated with Fmsbonds, INC., has at least one disclosable event. These events include one customer complaint, alleging that Destefano recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,225,000.00 on April 30, 2021.

A third-party, beneficiary of a deceased former client of the firm’s has alleged that the trust of the former client was overconcentrated with with various unsuitable Puerto Rico municipal bonds causing losses to incurred by the trust.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Antonio Almeida (Almeida), previously associated with Worden Capital Management LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Almeida recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $106,882.07 on April 26, 2021.

Time frame: December 2012 – November 2020. Claimant(s) allege unsuitable investment recommendations.

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