Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Carlos Alvarado (Alvarado), currently associated with Herbert J. Sims & Co, INC., has at least one disclosable event. These events include one customer complaint, alleging that Alvarado 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 $100,000.00 on November 04, 2020.
Client’s allege unsuitability, overconcentration, failure to supervise, scienter, aiding and abetting, fraudulent concealment, violations of securities laws and rules, fraud, recklessness, negligence, breach of fiduciary duties, and violations of PR contract law (Puerto Rico bonds and closed-end funds). Includes request for rescission, interest, fees, costs, and disgorgement of commission and fees.