Financial Advisor Julian E. Munoz, Independent Financial Group, Guaynabo, PR
FINRA Reportedly Suspends Advisor Julian E. Munoz for Borrowing $30,000 from Client
Are you concerned about investments with Julian E. Munoz in Guaynabo, PR? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.
According to public records on the Financial Industry Regulatory Authority’s website, the regulator has suspended and fined Munoz after he allegedly borrowed $30,000 from a member firm customer without providing prior notice to, or obtaining prior written approval from the firm.
The findings also stated that Munoz allegedly falsely stated on the firm’s annual compliance questionnaires that he had not borrowed money from any customer.
According to his broker report, Munoz is reportedly registered with Independent Financial Group in Guaynabo, PR. Munoz reportedly has 3 customer complaints indicated by his broker report, with one still pending. Allegations include unsuitability, over-concentration, failure to supervise, aiding and abetting, violations of securities laws and rules, fraud, deceit, recklessness, negligence breach of contract, breach of fiduciary duties, violations of PR contract law (Puerto Rico Bonds and Closed End Funds).
According to the broker-comment in the above complaint, “Mr. Munoz is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the economy of Puerto Rico.”
Investigating Potential Lawsuits
The White Law Group is investigating potential securities fraud lawsuits regarding the liability that Munoz’s employers may have for failure to properly supervise him.
When brokers violate securities laws, such as borrowing money from a client, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
We represent investors in FINRA arbitration claims in all 50 states and Puerto Rico. Our attorneys have recovered millions of dollars from many brokerage firms in the past. If you are concerned about your investments with Julian E. Munoz, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its represent please visit www.WhiteSecuritiesLaw.com.