Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Santiago Torres (Torres), previously associated with Truist Investment Services, Inc., has at least 3 disclosable events. These events include 2 customer complaints, one regulatory, alleging that Torres recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint on January 31, 2025.
Torres was named a respondent in a FINRA complaint alleging that he failed to provide information and documents and failed to appear for on-the-record testimony requested by FINRA as part of an investigation into whether he misappropriated funds and falsified customer documents. The complaint alleges that FINRA opened the investigation after reviewing a Form U4 amendment filed by Torres’ member firm that disclosed a customer complaint alleging that he misappropriated funds from the customer, who was Torres’s wife’s cousin, and other family members. The requested information and documents were relevant to determining whether Torres misappropriated funds from customers and other family members or forged customer documents, and they were necessary for FINRA to complete its investigation. Torres’ testimony was also material to FINRA’s investigation.