Fernando Monllor Consented to a FINRA Fine
Fernando Monllor (CRD #: 3098650), a broker registered with Popular Securities, has been fined and suspended by FINRA, according to his BrokerCheck record, accessed on August 6, 2021.
FINRA requires brokers to observe high standards of commercial honor and just and equitable principles of trade. According to the AWC, Monllor obtained a pre-signed letter of authorization from one customer. On two occasions, Monllor allegedly added information to the previously signed LPA and used it to make a transfer of funds between accounts belonging to the customer.
As part of the terms of the AWC, Monllor consents to a 30-day suspension and a $5,000 fine. You can read a copy of the AWC here.
Settled Investor Disputes
Fernando Monllor has three settled investment disputes on his record. All three allege that Monllor recommended Puerto Rico-based securities, which were allegedly unsuitable in light of the investor’s risk tolerance and Puerto Rico’s bankruptcy. These collectively settled for $155,000.
Fernando Monllor Background Information
Fernando Monllor has passed the following exams:
- Series 66 Uniform Combined State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
He is a registered broker in Florida and Puerto Rico and is a registered investment adviser in Puerto Rico.
Monllor has only registered with Popular Securities (CRD #: 8096).
Kurta Law Can Help
If you worked with Fernando Monllor and you have concerns about your investments, contact Kurta Law today. Call 212-658-1502 or email email@example.com.