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Desiderio Torrez Reportedly Barred for Selling Away 

Desiderio Torrez Reportedly Barred for Selling Away, featured by top securities fraud attorneys, the White Law Group

FINRA Bars Desiderio Torrez, PFS Advisor, after allegations of Selling Unapproved Securities 

According to a Letter of Acceptance Waiver and Consent on December 20, 2022, the Financial Industry Regulatory Authority (FINRA) has barred former PFS Investments advisor Desiderio Torrez (CRD#: 4759218) from associating with any FINRA member at any time after he reportedly failed to provide information in FINRA’s investigation. FINRA was reportedly investigating a customer complaint reported by Torrez’s former member firm in an amended Form U5. The findings reportedly stated that the amended Form U5 disclosed a customer complaint relating to Torrez’s alleged recommendation that the customer invest in a company. 

According to Torrez’s FINRA BrokerCheck Report, a customer filed a complaint on August 23, 2021, alleging Desiderio Torrez “recommended for her to invest into a California LLC name Meso Healthy LLC.” The damage amount requested was $115,500. The complaint was reportedly closed/no action. 

Torrez was reportedly affiliated with PFS Investments in San Diego, Ca from January 2009 until January 29, 2021. 

Recovery of Investment Losses through FINRA Arbitration 

The White Law Group is investigating potential securities claims involving Desiderio Torrez and the liability his employers may have for failure to supervise him.  

When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.” Some brokers, looking to supplement their income, will go outside the traditional market, trying to find other products to push.   

If a registered broker “sells away” from their firm, the brokerage firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.  To learn more, see: Financial Advisor Fraud | Unapproved Securities “Selling Away” 

 FINRA operates the largest securities dispute resolution forum in the United States, and has extensive experience in providing a fair, efficient and effective venue to handle a securities-related dispute. 

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.  We represent investors in all 50 states including California. Our attorneys have recovered millions of dollars from many brokerage firms in the past.                  

If you are concerned about your investments with Desiderio Torrez and PFS Investments, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.                   

For more information on The White Law Group, and its representation of investors, please visit whitesecuritieslaw.com. 




Tags: , , , , , , , , , Last modified: December 21, 2022