Investigating Claims Involving Aegis Broker Dennis Herrera
The White Law Group is investigating potential securities claims involving former financial advisor Dennis Herrera (CRD#: 4618370), who was most recently registered with Aegis Capital Corp. (CRD#: 15007) in Miami, Florida. According to his FINRA BrokerCheck report, Herrera has been suspended by FINRA and has a history of customer disputes and regulatory sanctions tied to unsuitable trading and excessive commissions.
Regulatory Action – FINRA Suspension (2025)
On August 21, 2025, FINRA sanctioned and suspended Herrera for violating Regulation Best Interest (Reg BI). Without admitting or denying the findings, Herrera consented to the sanctions for recommending a series of excessive and unsuitable trades to two customers, including a senior investor.
Herrera’s trading generated $158,500 in commissions while causing $358,979 in realized losses in customer accounts. FINRA found that Herrera exercised de facto control over at least one account.
As part of the settlement, Herrera was ordered to pay a $5,000 fine, $158,500 in restitution, and was suspended from working in any broker capacity for six months (September 2, 2025 – March 1, 2026).
Customer Complaints
Herrera’s BrokerCheck record lists three disclosures, including regulatory sanctions and customer disputes:
- December 15, 2022 – Customer Dispute (Withdrawn): Allegations of suitability, churning, breach of fiduciary duty, breach of contract, unauthorized trading, negligence, and misrepresentation. Claim sought $407,235 in damages. Withdrawn.
- March 9, 2020 – Customer Dispute (Settled): Client alleged unsuitability, breach of contract, and breach of fiduciary duty. Settled for $56,817.89 after a claim of $139,399.
Employment History & Firm Associations
Over his 20-year career, Herrera was registered with nine firms, including several that were later expelled by FINRA:
- Aegis Capital Corp. (CRD#: 15007) – 2016 to 2023
- Laidlaw & Company (UK) Ltd. (CRD#: 119037) – 2014 to 2016
- Blackbook Capital LLC (CRD#: 123234) – 2013 to 2014 (Firm expelled 2016)
- Charles Vista LLC (CRD#: 132650) – 2010 to 2013 (Firm expelled 2014)
- John Thomas Financial (CRD#: 40982) – 2008 to 2010 (Firm expelled 2013)
- Mercer Capital Ltd. (CRD#: 104012) – 2007 to 2008
- Hunter Scott Financial LLC (CRD#: 45559) – 2003 to 2007 (Firm expelled 2014)
- Park Capital Securities (CRD#: 104206) – 2003 (Firm expelled 2005)
- J.P. Turner & Company (CRD#: 43177) – 2003 (Firm expelled 2015)
Herrera’s long association with firms that were sanctioned or expelled raises further concerns about supervision and compliance oversight.
Risks for Investors
Herrera’s regulatory history highlights several misconduct risks for former clients, including:
- Churning and Excessive Trading – Generating commissions at the expense of portfolio performance.
- Unsuitable Recommendations – Placing clients into trades inconsistent with their goals or risk tolerance.
- Reg BI Violations – Failing to act in the best interest of retail investors.
Recovery Options for Investors
Investors who suffered losses with Dennis Herrera may be entitled to pursue recovery through a FINRA arbitration claim. This process allows investors to seek damages from brokerage firms that failed to supervise their advisors.
Unlike class actions, FINRA arbitration claims are filed individually and typically resolve faster, providing a direct path to compensation.
Free Consultation
If you invested with Dennis Herrera and have concerns about your accounts, please contact The White Law Group at (888) 637-5510 for a free consultation. Our securities attorneys have handled over 800 FINRA arbitration cases nationwide and can help evaluate your potential recovery options.
For more information, visit www.whitesecuritieslaw.com.
FAQs
Why was Dennis Herrera suspended by FINRA?
Herrera was suspended in 2025 for violating Reg BI by recommending unsuitable and excessive trades that generated high commissions while causing client losses.
What firms did Herrera work for?
Herrera was registered with nine firms over his career, including Aegis Capital, Laidlaw & Company, John Thomas Financial, Charles Vista, and others, several of which were later expelled by FINRA.
Can investors recover losses from Herrera’s misconduct?
Yes. Investors may be able to recover losses through FINRA arbitration claims against brokerage firms that failed to supervise Herrera’s recommendations and trading activity.
