Truist Broker Santiago Torres Jr. Barred after Allegations of Misappropriation
According to the Financial Industry Regulatory Authority (FINRA) Santiago Torres Jr. (CRD#: 5644622)was reportedly barred from working as a broker on January 31st, 2025. Torres allegedly failed to provide information to appear for on-the-record testimony requested by FINRA as part of an investigation into whether he misappropriated funds and falsified customer documents.
FINRA reportedly opened the investigation after reviewing a Form U4 amendment filed by Torres’ member firm that disclosed a customer complaint alleging that he misappropriated funds from firm customers.
Santiago Torres Jr. – FINRA Broker Check
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
According to his broker report, Santiago Torres Jr. has two customer complaints on his record. He was reportedly registered with the following firms among others:
02/17/2021 – 10/18/2024 TRUIST INVESTMENT SERVICES, INC. (CRD#:17499) WILLOW STREET, PA
01/02/2018 – 02/17/2021 BB&T SECURITIES, LLC (CRD#:142785) RICHMOND, VA03/07/2017 – 01/02/2018 BB&T INVESTMENT SERVICES, INC. (CRD#:33856) WYOMISSING, PA
Failure to Supervise
A brokerage firm’s duty to supervise its advisors is a fundamental obligation under federal securities laws and FINRA rules. This duty is designed to protect investors.
If an advisor engages in misconduct, the firm can be held liable if it failed to detect or prevent the wrongdoing due to inadequate supervision. Firms that fail to supervise their advisors, can be held responsible for investment losses in a Financial Industry Regulatory Authority (FINRA) arbitration claim.
Free Consultation
If you have suffered investment losses with Santiago Torres Jr. and Truist Investment Services, the securities attorneys at the White Law Group may be able to help you by filing a FINRA Dispute Resolution claim. Please call (888) 637-5510 for a free consultation.
National Securities Attorneys
The White Law Group, LLC is a national law firm in securities fraud, securities arbitration, investor protection, and securities regulation and compliance. With offices in Chicago, Illinois and Seattle, Washington, the firm is dedicated to assisting investors across all 50 states with claims against their brokerage firms. Since its founding in 2010, The White Law Group has handled over 800 FINRA arbitration cases.
With more than 30 years of experience in securities law, The White Law Group has the knowledge and expertise to help investors recover losses resulting from securities fraud.
Last modified: February 7, 2025
