Articles Tagged with Fined and Censured by FINRA

The firm accepted sanctions including $50,000 fine

Oriental Financial Services was recently fined in the conclusion of a FINRA investigation alleging that the corporation withheld documents and information regarding a 2011 customer dispute in FINRA arbitration. Based in Puerto Rico, OFS also works for investors in Florida, Washington, D.C., New Jersey, New York, Texas and Virginia.

In 2011, the firm was involved in a customer dispute claiming a loss of more than $600,000, alleging a conflict of interest, which resulted in OFS being sanctioned by FINRA. The firm neither confirmed nor denied the allegations, but accepted sanctions in the form of a censure and a $50,000 fine.