Gustavo Rodrigo Subject to a FINRA Fine Following Unauthorized Trading Allegations
Gustavo Rodrigo (CRD #: 3031284), a broker registered with Sutter Securities Incorporated, is the subject of a FINRA suspension. This is according to his BrokerCheck record, accessed on October 31, 2023. Keep reading if you have questions about his alleged conduct.
On September 13, 2023, Gustavo Rodrigo entered into an Acceptance, Waiver, and Consent agreement in which he consented to the findings that he exercised discretion in a customer’s account without written authorization from the customer and without his member firm having accepted the account as discretionary.
As part of the terms of the AWC, Gustavo Rodrigo consented to a fine of $2,500 and a 10-day suspension.
You can read a copy of the AWC here.
FINRA Rule 3260
FINRA Rule 3260 limits discretionary trading by brokers to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm. Discretionary trading that takes place in an account that has not been approved is unauthorized.
Background Information
Gustavo Rodrigo has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
He is a registered broker in 28 states.
During his 22 years of experience, he has registered with 11 firms:
- Sutter Securities Incorporated (CRD #: 30770)
- Boustead Securities (CRD #: 141391)
- Westpark Capital (CRD #: 39914)
- Woodstock Financial Group (CRD #: 38095)
- Caldwell International Securities (CRD #: 104323)
- Newbridge Securities Corporation (CRD #: 104065)
- Investors Capital Corp (CRD #: 30613)
- Chicago Investment Group (CRD #: 11853)
- Gunnallen Financial (CRD #: 17609)
- First Montauk Securities Corp. (CRD #: 13755)
- First Liberty Investment Group (CRD #: 3536)
Kurta Law Can Help
If you worked with Gustavo Rodrigo and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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 that 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.
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