UPDATE AUGUST 2016-FINRA records disclose that a customer of COR Clearing has filed FINRA arbitration 16-2100 alleging damages of $778,119 for recommending worthless securities and fraud.
UPDATE JULY 2016-FINRA records indicate that Rafael Santiago was permanently barred by FINRA for failing to respond to a FINRA request for information.
ORIGINAL POST MAY 2016-New York
According to FINRA records, Rafael Santiago, a broker who is not currently registered with any firm, discloses a pending customer dispute. Rafael most recently was employed by Primary Capital until 2/2016. Prior to that he was employed by several other firms including, COR Clearing, Morgan Stanley and Lighthouse Financial Group.
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 15-02385, a customer of COR Clearing alleges damages of $495,000 for failure to adhere to opening, administering and supervising is accounts and other indirect accounts with the promotion of VGTEL stock to its investors.
In 10/2014, Santiago was discharged from COR Clearing who alleged that Santiago entered unauthorized trades in a customer’s account
If you have questions about a brokerage account handled by Rafael Santiago , call to discuss 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.
Florida-561 391 1900