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Investor Alleges Nicholas Olivas Executed Unauthorized Trades

Nicholas Olivas (CRD #: 6803146), a broker registered with Raymond James & Associates, allegedly executed unauthorized trades, according to his BrokerCheck record, accessed on March 21, 2023. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

On January 28, 2023, an investor alleged that Nicholas Olivas mismanaged their account and executed unauthorized trades on November 21, 2022. They seek $117,949.30 in damages in this pending dispute.

FINRA Rule 3260

Unauthorized trading violates FINRA Rule 3260, which restricts brokers from engaging in discretionary trading only in pre-authorized accounts. Both the firm and the client must approve an account before discretionary trading can occur.

FINRA Rule 2010

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

Background Information

Nicholas Olivas has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Nicholas Olivas is a registered broker in 14 states and Puerto Rico. He is also a registered investment adviser in California and Texas.

He has also worked for Oppenheimer & Company (CRD#:249) and Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691).

Kurta Law Can Help

If you worked with Nicholas Olivas and you have concerns about your investments, please contact us today at 877-600-0098 or 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.