Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Rafael Arthur Torres (Arthur Torres), previously associated with Popular Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Arthur Torres 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 $130,000.00 on February 08, 2021.
Claimants allege that the recommendation to invest in and hold Puerto Rico closed-end funds and Puerto Rico municipal bonds was unsuitable and that their account was over-concentrated in these investments. They also allege that the risks of investing in and concentrating in PR investments were misrepresented.