Securities Investigation – Alex G. Herrera – UBS Financial Services – Coral Gables, FL
According to the Financial Industry Regulatory Authority (FINRA), the regulator has reportedly barred financial advisor Alex G. Herrera from the securities industry.
According to the Letter of Acceptance, Waiver & Consent, Herrera consented to the sanction and to the entry of findings that he refused to provide information requested by FINRA in connection with its investigation of his possible participation in unreported outside business activities and private securities transactions.
For FINRA’s full findings see FINRA case # 2018058446601.
According to his FINRA BrokerCheck report, Herrera was registered with UBS Financial Services in Coral Gables, FL from March 2012 until May 2018.
The White Law Group is investigating the liability that Herrera’s former employer, UBS may have for his actions in regards to his alleged outside business activities.
When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.”
Some brokers, looking to supplement their income, will go outside the traditional market, trying to find other products to push.
If a registered broker “sells away” from their firm, the brokerage firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.
If you have invested with Alex G. Herrera and are concerned about your investments, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call our offices at 888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, please visit our website at https://www.whitesecuritieslaw.com.