(888) 637-5510

Written by 11:49 am Blog, Securities Fraud Articles

FINRA Bars Florida Broker

According to South Florida Business Journal, former Liberty Partners Financial Services broker, Ariel Luis Hernandez, has been permanently barred form working in the securities industry. The Financial Industry Regulatory Authority (FINRA) reportedly barred Hernandez over allegations that he wired money from a clients fee-based brokerage account to a bank without the clients permission. Hernandez then allegedly transferred the money to his own personal account.

Hernandez signed a Letter of Acceptance, Waiver and Consent (AWC) to settle the alleged rule violation with FINRA. The AWC reports that Hernandez wired money 12 times from the clients accounts, and that the alleged compensatory damages totaled $158,000.

According to Hernandez’s BrokerCheck report he has worked for several brokerage firms throughout the state of Florida. Hernandez worked with Liberty Partners Services from 08/2010 until 11/2013. He previously worked with Summit Brokerage Services from 09/2009 – 08/2010, J.B. Hanauer & Co from 12/2008 – 09/2009, Wachovia Securities from 10/2007 – 12/2008, and Metlife Securities Inc from 06/2007 -10/2007.

Brokerage firms have a responsibility to adequately supervise the activities of their employees.
When brokers violate securities rules and regulations, the brokerage firm may liable for negligent supervision and responsible for investment losses.

If you suffered losses investing with Ariel Luis Hernandez, The White Law Group may be able to help. To discuss your litigation options with a securities attorney, please call (312) 238-9650 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

To learn more about The White Law Group, visit www.WhiteSecuritesLaw.com.

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