(888) 637-5510

Written by 9:58 am Blog, Securities Fraud Articles

Financial Advisor barred from securities industry

According to FINRA’s December 2013 Disciplinary Actions, Ramses Villela was recently barred from association with any FINRA member in any capacity.

The sanction was allegedly based on findings that Villela failed to appear and provide FINRA-requested testimony regarding allegations that he engaged in proprietary foreign exchange (FX) trading activity without his member firm’s knowledge or consent. The findings stated that he had allegedly forged senior managers’ signatures on various counterparty documents to further his wrongful conduct; and as a result, the firm had received a demand from a counterparty totaling approximately $2.3 million, which it purportedly paid.

The White Law Group is investigating the liability that Villela’s employer may have for failure to properly supervise Villela and his activities.  Brokerage firms have a responsibility to supervise their financial advisors and to ensure that they are complying with FINRA Rules.

For a free consultation with a securities attorney, please call The White Law Group at 312/238-9650.  The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on The White Law Group, visit https://whitesecuritieslaw.com.

Tags: , , , Last modified: July 17, 2015