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Investor Alleges Fermin Mesina Failed to Conduct Proper Due Diligence

Feb 24, 2023 Unsuitable Investments

Fermin Mesina (CRD #: 4619199), a broker registered with Infinex Investments, is the subject of two pending investor disputes, according to his BrokerCheck record, accessed on February 17, 2023. If you have questions about his alleged conduct as a broker, read on.

Investor Disputes

On January 11, 2023, an investor alleged that Fermin Mesina failed to conduct adequate due diligence with regard to an investment vehicle and concentrated a large portion of their net worth into this investment. The client seeks $500,000 in damages in this pending dispute.

In a dispute filed on April 13, 2022, an investor alleged that Fermin Mesina engaged in negligence, breached his contract, and violated the California Corporations Code. The client seeks $350,000 in this pending dispute.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. 

Suitability also applies to investment strategies. An example of a potentially unsuitable investment strategy is overconcentration, which can expose investors to a level of risk beyond what is appropriate given their profiles.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

What is broker negligence?

Brokers may act in many negligent ways, ranging from misrepresenting or omitting material facts to executing unauthorized trades. Investors who feel their losses are the result of broker negligence may be able to recover their funds through FINRA arbitration

Background Information

Fermin Mesina has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Fermin Mesina is a registered broker in Arizona, California, Georgia, and Nevada. He is also a registered investment adviser in California.

He has also worked for the following firms:

  • First Brokerage America (CRD#:43431)
  • Insight Securities (CRD#:5611)
  • J.P. Morgan Securities (CRD#:79)
  • Chase Investment Services (CRD#:25574)
  • HSBC Securities (USA) (CRD#:19585)
  • Wells Fargo Investments (CRD#:10582)

Kurta Law Can Help

If you worked with Fermin Mesina and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.