Nohra Bello Allegedly Failed to Act in Investors’ Best Interest

Nohra Bello (CRD #: 6290051), a broker registered with Fidelity Brokerage Services, allegedly failed to act in his clients’ best interest, according to his BrokerCheck record, accessed on December 5, 2022. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

On September 26, 2022, several investors filed a dispute alleging that Nohra Bello facilitated an unsuitable investment strategy, omitted material facts, and failed to act in their best interest between August 2020 and January 2021. This dispute is pending.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile contains information about their risk tolerance, age, tax status, and other characteristics.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulation, deception, and other fraudulent tactics to influence the purchase or sale of securities. Misrepresenting an investment’s risks, potential returns, or other features violates this rule.

Background Information

Nohra Bello has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Nohra Bello is a registered broker in Arizona, California, Massachusetts, Texas, and Washington. He is also a registered investment adviser in Arizona and Texas.

He previously worked for Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691) and Charles Schwab & Company (CRD#:5393).

Kurta Law Can Help

If you worked with Nohra Bello 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.