March 2019 – Coral Gables, FL
According to FINRA records, Alex Gerardo Herrera, a former stockbroker who last worked for USB Financial Services, discloses 2 prior regulatory events , a current customer dispute and a prior customer dispute.
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 August of 2018, without admitting or denying the findings, Herrera consented to sanctions and entry of findings that while employed by USB Financial Services, he refused to provide information requested by FINRA in connection with its investigation of his possible participation in unreported outside business activities and private securities transactions. Herrera was permanently barred from the securities industry.
In May of 2018, a UBS customer alleged that Herrera had stolen her money to buy a vacation home. That matter was closed with no acton in 10/2018.
In 10/2018 a customer of UBS Financial file FINRA case #18-3652 alleging that Herrera exercised impermissible discretion, traded the customer’s portfolio for his own personal gain and engaged in unapproved outside financial transactions and stole money. The customer is seeking damages of $7 million in this currently pending matter.
If you have losses in an account handled Alex G. Herrera, call for a no charge consultation to learn about your legal options for recovery.
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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