April 2020-El Paso, TX
According to publicly available records of Robert Renteria (CRD#5773053) , a broker formerly employed with PFS Investments, Inc., discloses a regulatory event, a settled customer dispute and a termination.
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 December of 2019, FINRA case 2019063663401 was filed alleging that Renteria borrowed money from two member firm customers without the firm’s prior knowledge or approval. His firm detected that he was using funds from his own bank account to purchase securities for the customer, and commenced an investigation. Renteria informed the firm that he had borrowed money for the customer and that he was purchasing securities to repay the loan. The findings also stated that Renteria falsely certified on the firm’s annual compliance questionnaires that he had not borrowed money from any firm customer. Renteria was suspended for 3 months starting in 12/2019 and ordered to pay restitution of $6,000.
In 10/1997 Renteria was convicted of misdemeanor theft in El Paso County, Texas. He was fined $752 and subject to 18 months probation and community service.
Renteria was employed with PFS Investments, Inc. from April of 2010 until August of 2019, when he was discharged as a result of allegations that he had borrowed money from a securities customer. Before that he was employed with Primerica Financial Services.
If you have questions about an account with Robert Renteria , call to discuss your 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.
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