Manuel Collazo Investigation
April 2022- San Juan, Puerto Rico
The FINRA records of Manuel Diaz Collazo, a broker with Insigneo Securities who formerly worked for Santander Securities, discloses 13 prior customer disputes and a pending 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.
Between December of 2017 and March of 2020, 13 disputes filed by customers of Collazo while he was employed by Santander Securities were settled with case payments which collectively exceed $2.3 million. Allegations of wrongdoing alleged by these customers include: unsuitability, over-concentration, breach of fiduciary duty, negligence, negligent supervision, failure to supervise, fraud, breach of contract and violations of securities laws and rules, fault and negligence, misrepresentation, omissions, promissory estoppel and fair dealing and care.
Recently, in January of 2022, FINRA case #22-00127 was filed by a Santander Securities customer alleging that Collazo made unsuitable recommendations, over concentrated accounts, violated securities laws and rules, committed fraud, was reckless, was negligent, and breached his fiduciary duties . The customer seeks damages of $143,990 in this currently pending matter .
Collazo has been with Insigneo Securities since 1/2018. Before that time he was with Santander Securities from March of 2010-2/2018.
If you have questions about an account handled by Manuel Collazo, call for a no charge consultation to learn more about your legal 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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