Our firm has filed a complaint against Irvine, California-based Cetera Advisors (CRD# 10299) relating to broker Daniel B. Vazquez Sr. (CRD# 3141463) after FINRA permanently barred Vazquez.
According to Vazquez’s FINRA BrokerCheck report, FINRA permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public in June 2016 for failing to respond to a FINRA request for information.
The permanent bar comes just two months after a FINRA arbitration was filed alleging unsuitable recommendations and unauthorized trades which led to portfolio losses.
In addition to that FINRA arbitration filed in April 2016 relating to Vazquez, another FINRA arbitration filed in August 2016 is currently pending. That FINRA arbitration also alleges unsuitable recommendations and unauthorized trades in addition to misrepresentations in the amount of $107,000.
Vazquez was based out of the Irvine, California Cetera branch and was employed by Cetera from November 2013 to May 2016. Prior to Vazquez’s time with Cetera, he was employed by Investors Capital Corp. (CRD# 30613), which is a subsidiary of the Cetera Financial Group, also owner of Cetera Advisors. Vazquez operated as Hoplon Financial Group in California.
Over the course of Vazquez’s 17-year career, he has been employed by 12 different firms.
Unauthorized trading occurs when a broker facilitates a transaction without the permission of the customer in a non-discretionary account. According to FINRA, it is one of the common investor issues along with misrepresentation, cold-calling, and unsuitability.
Unauthorized discretion is a serious form of broker misconduct. A broker’s employing firm is responsible for overseeing the broker to prevent such misconduct.
FINRA arbitration is a fast, efficient way to recover your lost investment funds due to unauthorized trading. We work on a contingency fee basis, meaning you pay us nothing unless we win and recover money for you.
If you have invested with Daniel B. Vazquez Sr. and Cetera Advisors or Investors Capital Corp. and have lost money doing so, you may be able to recover some or all of your losses. Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.