Ramiro Colon – Investor Alert

Galvin Legal is launching an investigation on behalf of investors who may have suffered losses investing with Ramiro Colon. If you suffered losses investing with Ramiro Colon, then Galvin Legal may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.

As of the date this post is being posted, August 12, 2016, Colon’s FINRA BrokerCheck Report contains the following notice: “The SEC has suspended this individual from engaging in supervisory activities. Please see the detailed report for additional information.”

Disclosure Events

06/09/2016 Customer Dispute – Pending
01/21/2016 Customer Dispute – Pending
12/09/2015 Customer Dispute – Pending
10/28/2015 Customer Dispute – Pending
10/26/2015 Customer Dispute – Pending
10/21/2015 Customer Dispute – Pending
10/19/2015 Customer Dispute – Pending
10/19/2015 Customer Dispute – Pending
10/16/2015 Customer Dispute – Pending
10/14/2015 Customer Dispute – Pending
10/14/2015 Customer Dispute – Pending
10/14/2015 Customer Dispute – Pending
10/13/2015 Customer Dispute – Pending
10/12/2015 Customer Dispute – Pending

09/29/2015 Regulatory – Final

Initiated By UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Allegations:

SEC Admin Release 34-76014/September 29, 2015: The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 (“Exchange Act”), against Ramiro L. Colon, III. Colon, a former branch office manager of the Guaynabo Complex of offices of UBS Financial Services Incorporated of Puerto Rico (“UBSPR”), failed reasonably to supervise an individual with a view to preventing and detecting the individual’s violations of the federal securities laws from 2011 through 2013. In 2011, Colon was alerted to the possibility that the individual was engaged in a scheme to use proceeds from lines of credit to purchase closed-end funds. Instead of reasonably responding to and investigating this red flag, after reviewing the customer’s profile, Colon accepted the individual’s explanation and did not follow up with the customer. Colon failed to follow up on the red flag despite his awareness that the individual’s performance and the performance of the Guaynabo branch with respect to lines of credit originations exceeded the individual’s fellow registered representatives and that of the other Puerto Rico branches. The individual engaged in conduct that violated Section 17(a) of the Securities Act of 1933, which prohibits fraudulent conduct in the offer and sale of securities, and Sections 10(b) of the Exchange Act and Rule 10b-5 thereunder, which prohibit fraudulent conduct in connection with the purchase or sale of securities. Based on the above, Colon failed reasonably to supervise the individual for the purposes of Section 15(b)(4)(E) of the Exchange Act.

Resolution: Order

Sanctions: Civil and Administrative Penalty(ies)/Fine(s)

Amount: $25,000.00

Sanctions: Suspension

Duration: 12 months

Sanctions: agreement to cooperate

Broker Comment:

In compliance with the settlement described above and without admitting or denying the allegations and charges, Mr. Colon agreed to the terms of the settlement.

09/29/2015 Customer Dispute – Pending
09/22/2015 Customer Dispute – Pending
09/11/2015 Customer Dispute – Pending
09/09/2015 Customer Dispute – Pending
03/25/2015 Customer Dispute – Pending
07/23/2014 Customer Dispute – Pending
07/10/2014 Customer Dispute – Pending
05/08/2014 Customer Dispute – Pending
03/28/2014 Customer Dispute – Pending
03/24/2014 Customer Dispute – Pending
11/13/2013 Customer Dispute – Pending
03/14/2006 Customer Dispute – Pending

Current and Previous Registrations

11/2006 – PRESENT UBS FINANCIASL SERVICES INC. (CRD# 8174) – MIAMI, FL
11/2006 – 02/2015 UBS FINANCIAL SERVICES INCORPORATED OF PUERTO RICO (CRD# 13042) – PONCE, PR
10/2002 – 11/2006 R-G INVESTMENTS CORPORATION (CRD# 113293) – SAN JUAN, PR
05/1997 – 11/2000 POPULAR SECURITIES, INC. (CRD# 8096) – SAN JUAN, PR
02/1995 – 05/1997 MARKETING ONE SECURITIES, INC. (CRD# 16611) – PORTLAND, OR
06/1992 – 05/1993 FIRST CHICAGO CAPITAL MARKETS, INC. (CRD# 23065) – CHICAGO, IL
09/1988 – 09/1990 CITICORP FINANCIAL SERVICES CORPORATION (CRD# 17053) – SAN JUAN, PR

FINRA requires brokerage firms 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. Brokerage firms that fail to conduct adequate due diligence or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.

If you suffered losses investing with Ramiro Colon and would like a free consultation with a securities attorney, then please call Galvin Legal at 1-800-405-5117.

Galvin Legal is a national securities arbitration, mediation, fraud, and investor protection law practice. For more information on Galvin Legal, please visit www.galvinlegal.com or call 1-800-405-5117.