Liliana Molina Facing Six-Figure Investment Dispute

Liliana Molina (CRD #: 2533723), a broker registered with Spire Securities, allegedly violated several regulations, according to her BrokerCheck record, accessed on September 2, 2022. Investors may have also engaged her services through Spire Wealth Management. Read on to learn more about Liliana Molina’s conduct as a broker.

Investor Dispute

On June 21, 2022, an investor alleged that Liliana Molina recommended an unsuitable investment, omitted material information, and failed to disclose conflicts of interest. The client seeks damages of $125,000, the amount originally invested into a private placement of oil and gas units in 2014. This dispute is pending.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires that brokers take into account an investor’s profile when giving investment recommendations. An investor’s profile describes client characteristics, including their tax status, age, and financial goals.

The SEC’s Regulation Best Interest (Reg-BI) expands on FINRA Rule 2111, requiring brokerage firms to put investors’ best interests first. This includes an obligation to disclose any conflicts of interest they may have in a transaction.

FINRA Rule 2020

The omission of information related to investments violates FINRA Rule 2020, which prohibits the use of deceptive, manipulative, and otherwise fraudulent means of influencing the purchase and sale of securities.

Background Information

Liliana Molina has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Liliana Molina is a registered broker in 11 states and a registered investment adviser in Virginia.

She has also worked for the following firms:

• Cambridge Investment Research (CRD#:39543)
• Ameriprise Financial Services (CRD#:6363)
• IDS Life Insurance Company (CRD#:6321)
• First Union Brokerage Services (CRD#:8112)

Kurta Law Can Help

If you worked with Liliana Molina 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.