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Gustavo Miramontes Involved in 5 Pending Disputes

Feb 22, 2022 Unauthorized Trading

Gustavo Miramontes (CRD #: 2338966), a broker registered with Oppenheimer & Co., is involved in five pending investor disputes, according to his BrokerCheck record, accessed on February 12, 2022. 

According to the allegations filed in 2021, Gustavo Miramontes executed unauthorized transactions in his clients' accounts. The clients further allege the investments were unsuitable.

Unauthorized trading occurs when a broker executes securities transactions without authorization from their client. Unless an account has been approved for discretionary trading, a broker must always have authorization from an investor before executing any trades. 

Settle Dispute

On November 19, 2018, an investor alleged that Gustavo Miramontes executed certain bond transactions that were not suitable for her risk profile. The dispute settled for $431,401.45.  

FINRA Rules 3260 and 2010

FINRA Rule 3260 requires that brokers only execute unauthorized trades in discretionary accounts. For non-discretionary accounts, investors must always seek their customer's authorization. 

Making unauthorized trades in or facilitating unauthorized withdrawals from a customer's account is a breach of the duty to observe high standards of commercial honor and just and equitable principles, in violation of FINRA Rule 2010.

Bankruptcy

On October 4, 2016, Gustavo Miramontes was involved in a bankruptcy.

Background Information

Gustavo Miramontes has passed the following exams:

  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 10 - General Securities Sales Supervisor - General Module Examination
  • Series 9 - General Securities Sales Supervisor - Options Module Examination

He is a registered broker in four states. 

Besides Oppenheimer & Co., Gustavo Miramontes has also worked with the following firms:

  • Wedbush Securities (CRD#:877) 
  • Wells Fargo Advisors (CRD#:19616)      
  • Southwest Securities (CRD#:6220)         
  • M.L. Stern & Co. (CRD#:8327)

Kurta Law Can Help

If you have worked with Gustavo Miramontes and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors 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.