April 2020-McAllen, TX
The FINRA records of Mauricio Borja, a broker previously employed by Allstate Financial Services, disclose a regulatory event resulting in his bar from the securities industry.
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 2019, Borja was permanently barred from the securities industry by FINRA after allegations that he failed to respond to FINRA request for information. In September 2018 he was suspended by FINRA and failed to request termination of suspension within the three months of the date of the Notice of Suspension and was automatically barred from association with any FINRA member in all capacities.
In 6/2018 a customer of Allstate Financial alleged that she was issued a term life insurance policy without her knowledge or consent and that she did not sign the application. The matter was closed with no action.
Borja was employed with Allstate Financial Services from March of 2011 to August of 2019.
If you have problems in an account handled by Mauricio Borja call for a no charge consultation .
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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