March 2017- New York
According to publicly available records Robert Estevez , (CRD# 3161419) , a stockbroker who previously worked for Investors Capital Corp and who is currently employed by Joseph Gunnar & Co. , disclose a pending regulatory investigation, 2 prior finalized regulatory matters, 5 final customer disputes and 3 outstanding judgement/liens.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In the currently pending regulatory matter, Michigan securities regulators seek to deny Estevez’s registration in that state because, according to their allegations: “Estevez…is the subject of a Cease and Desist Order issued by the State of New Hampshire, and Applicant’s liabilities exceed his assets and the Administrator has made a finding of insolvency as to Applicant…”
In a prior regulatory matter while he was employed by Investors Capital Corp., the State of New Hampshire fined Estevez $50,000 and alleged that ” The State found that individuals in the branch where Mr. Estevez was located made telemarketing calls into the state of New Hampshire to persons on the National Do Not Call List. The State found that Mr. Estevez may have initiated some of these calls”. 9/2014- Com-2013-00002-00004.
Public records disclose that Estevez has three outstanding IRS liens of $56,135 , $15,646 and $59,897.
Estevez has been registered with Joseph Gunnar & Co. since 9/2016. He was registered with Investors Capital Corp. from 12/2008-9/2016.
Investors Capital Corp., a part of the Cetera Group, wound down operations during 2016. Many of the brokers were transferred to Summit Brokerage Services.
INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016
Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link.
If you have questions about an account in an account handled by Robert Estevez, contact us to discuss your legal options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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