Gerardo Castillo Investigation
March 2023-Miami, FL
According to publicly available records Gerardo I. Castillo, a broker who currently is working with Insigneo Services and before that, Wells Fargo, discloses settlement of a 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 FINRA case #19-03607, a Wells Fargo Clearing Services customer alleged that Castillo excessively traded (churned) their account and misrepresented the account for the primary purpose of generating commissions. The case was settled for $125,000 in 11/2020.
Castillo has been employed by Insigneo Securities since June 2018. Before that time he was with Wells Fargo Clearing Services and Wells Fargo Advisors since January of 2010.
If you had an account with Gerardo Castillo that suffered losses, you may be entitled to collect damages from his 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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