Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Felipe Henao Vargas (Henao Vargas), previously associated with Insigneo Securities, LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Henao Vargas recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on December 19, 2023.
Without admitting or denying the findings, Henao consented to the sanctions and to the entry of findings that he exercised discretion without written authorization in a customer’s account. The findings stated that Henao exercised discretion in a customer’s account by initiating a substantial short position in a volatile exchange-traded note. After the trade went against his customer, Henao closed out the position. Henao did not have written authorization from the customer, or permission from his member firm, to exercise discretion in the account. Henao aggravated his misconduct by using an unapproved communication channel to exchange messages concerning the trades with a family member of the customer after the fact.