FINRA Bars Miami Broker Alex Herrera

Alex Gerardo Herrera (CRD #3204779) is a former registered broker and investment representative whose last employer was UBS Financial Services Inc. (CRD #8174) of Coral Gables, FL. His previous employers include HSBC Securities (USA) INC. (CRD #19585), also of Coral Gables, Atlas One Financial Group, LLC (CRD #124057) of Miami, FL, and Citicorp Investment Services (CRD #23988) of Long Island City, NY. No current employment information is available. He has been in the industry since 1999.

Herrera is the subject of three disclosures, with the most recent filed on 8/08/2018, a FINRA disciplinary action and Acceptance, Waiver & Consent (AWC) form in relation to his employment with UBS Financial Services. The investigation was focused on his voluntary termination “while under review after advising management he had engaged in financial and real estate relationships with longstanding clients without prior approval.” FINRA requested information from Herrera in letters dated May 17, 2018 and June 6, 2018 in relation to the allegations.

Through his legal counsel, Herrera indicated to FINRA that he declined to provide the requested information to them. On 7/23/2018, without admitting or denying the findings, Herrera signed the AWC letter, accepting sanctions. In the letter, FINRA indefinitely barred Herrera in all capacities.

A second disclosure, a customer dispute, was filed on 5/23/2018. In it, a customer alleged that Herrera “stole her client’s money to buy a vacation home.” No other information is available. The disclosure is currently listed as “pending.”

Herrera has one previous disclosure, a disciplinary action filed on 11/10/2014 by the Florida Department of Financial Services, which alleged that he failed to comply with the state’s required continuing education. Herrera paid a fine of $250.

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