Did you lose money investing with Carlos Fuenmayor (a/k/a Carlos Quintero) (CRD# 4055839)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Carlos Fuenmayor (a/k/a Carlos Quintero). If you suffered losses investing with Carlos Fuenmayor (a/k/a Carlos Quintero), then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of September 24, 2020, Carlos Fuenmayor (a/k/a Carlos Quintero)’s FINRA BrokerCheck Report contains the following:
Disclosure Events
1 Regulatory Event(s)
See FINRA Letter of Acceptance, Waiver and Consent No. 2015047215403
UPDATE 9/24/2020: According to FINRA’s August 2019 Disciplinary Actions: “Carlos Ricardo Fuenmayor (CRD #4055839, Key Biscayne, Florida) June 4, 2019 – An AWC was issued in which Fuenmayor was assessed a deferred fine of $20,000 and suspended from association with any FINRA member in all capacities for 15 months. Without admitting or denying the findings, Fuenmayor consented to the sanctions and to the entry of findings that as a director and 20 percent owner of his member firm with an option to purchase the remaining 80 percent, he acted as a General Securities Principal and a General Securities Representative without being registered in either capacity. The findings stated that in order to effect a new international trading strategy, following his purchase of the ownership interest in the firm, Fuenmayor became actively engaged in the firm’s securities business and in the management of its securities business, including by causing the firm to open a branch office in Caracas. Fuenmayor was primarily responsible for the hiring and management of personnel at the firm and also directed and engaged in securities transactions for the firm and solicited customers to use it. The firm’s customer base shifted from domestic retail customers to primarily foreign institutional accounts, including entities owned and controlled by Fuenmayor. These trades included numerous, complex bond trades among affiliated entities owned and controlled by Fuenmayor. Fuenmayor advised other firm registered representatives about these types of trading strategies, directed securities transactions out of the Caracas branch office, and ordered the firm’s other representatives to execute trades. The suspension is in effect from June 17, 2019, through September 16, 2020. (FINRA Case #2015047215403)
Current and Previous Registrations
11/01/2018 – 05/22/2019 WEILD & CO. (CRD#:132398) BOULDER, CO
02/04/2015 – 10/31/2016 DAKOTA SECURITIES INTERNATIONAL, INC. (CRD#:132700) MIAMI, FL
03/19/2007 – 11/01/2007 LATAM INVESTMENTS, LLC (CRD#:133163) MIAMI, FL
04/22/2003 – 10/21/2003 CITICORP FINANCIAL SERVICES CORPORATION (CRD#:17053) SAN JUAN, PR
01/25/2002 – 04/28/2003 THE PARTNERS FINANCIAL GROUP, INC. (CRD#:31979) MIAMI, FL
11/29/2000 – 12/12/2001 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD#:7691) NEW YORK, NY
02/23/2000 – 09/11/2000 MONY SECURITIES CORPORATION (CRD#:4386) NEW YORK, NY
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Carlos Fuenmayor (a/k/a Carlos Quintero) and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
