July 2021- Boca Raton, FL
According to publicly available records Charles Bonilla (CRD#2572107), a broker who formerly worked for David Lerner Associates, discloses a regulatory resulting in a suspension and fine for the sale of an energy limited partnership.
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.
Bonilla Made Unsuitable Recommendations to Invest in Energy Sector Assets
In 2/2021, in case #2020067626001, FINRA found that Bonilla violated FINRA Rules 2111 and 2010 by making unsuitable recommendations to customers to invest in an energy limited partnership and a mutual fund that concentrated its investments in the energy sector. FINRA found that he made these recommendations without having a reasonable basis to believe that those investments were suitable. The findings state that Bonilla did not perform reasonable diligence on the fund prior to recommending it to customers.
Sanctions include a 5 month suspension from FINRA, a $5,000 fine and a disgorgement of $22,417.
In December 2014, Bonilla was discharged by Scottrade, Inc. after allegations that he engaged in a business activity without without receiving proper approval prior to the business activity.
Bonilla was employed by David Lerner Associates from 12/2015-5/2018. He worked for Pruco Securities after that until 2/2019. He is not currently registered with any FINRA broker dealer.
In 12/2014 Bonilla was discharged by Scottrade who alleges that he “engaged in a business activity without receiving proper approval prior to the business activity”.
If you had an account with Charles Bonilla that suffered losses, you may be entitled to collect damages from his prior employer. 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.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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