SEC Files Civil Suit Against Hans Hernandez Alleging Fraud

Hans Hernandez (CRD #: 2109614), a broker formerly registered with Cetera Advisors, allegedly engaged in a fraudulent scheme, according to his BrokerCheck record, accessed on November 22, 2024. Read on to learn more about his alleged conduct as a broker.

SEC Civil Suit

On September 27, 2024, the Securities and Exchange Commission filed a civil complaint against Hans Hernandez alleging that he engaged in a cherry picking scheme involving his allocation of trades as an investment advisor.

This scheme allegedly generally involved Hans Hernandez purchasing stock in his personal trading account and then monitoring the stock price changes during the trading day to determine whether to keep shares or allocate them to his clients. He allegedly sold shares when their prices rose and kept the trades in his account, and allocated shares with decreasing prices to his clients.

The SEC alleges that, between approximately July 2020 and February 2022, Hans Hernandez generated more than $1 million for himself through this fraudulent scheme.

This civil suit is currently pending.

FINRA Rule 2010

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

Termination from Cetera Advisors

On May 2, 2023, Hans Hernandez was fired from Cetera Advisors for allegedly failing to cooperate with an investigation.

SEC Investigation

On September 27, 2022, the Securities and Exchange Commission launched an investigation into Hans Hernandez concerning his trade allocation practices.

Background Information

Hans Hernandez has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• Series 99TO – Operations Professional Examination
• Series 57TO – Securities Trader Exam
• SIE – Securities Industry Essentials Examination
• Series 55 – Limited Representative-Equity Trader Exam
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

He has also worked for the following firms:

• Cetera Advisors (CRD#:10299)
• First Allied Securities (CRD#:32444)
• Edward Jones (CRD#:250)
• Generic Trading of Philadelphia (CRD#:44018)
• E*Trade Professional Trading (CRD#:39293)
• Fred Alger & Company (CRD#:5300)
• Worldco (CRD#:24673)
• EdgeTrade.Com (CRD#:42071)
• On-Line Investment Services (CRD#:36816)
• Cygnet Securities (CRD#:28686)
• First Hanover Securities (CRD#:14469)
• Patterson Travis (CRD#:16540)
• H.J. Meyers & Company (CRD#:15609)
• Hibbard Brown & Company (CRD#:18246)
• Westfield Financial Corporation (CRD#:8143)

Kurta Law Can Help

If you worked with Hans Hernandez and you 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 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.