Pedro Ostia-Vega Suspended by FINRA for Alleged Reuse of Client Signatures

Pedro Ostia-Vega (CRD #: 6181372), a broker registered with Raymond James (USA), allegedly falsified client documents, according to his BrokerCheck record, accessed on December 5, 2024. If you have questions about his alleged conduct as a broker, read on.

FINRA Suspension

On November 19, 2024, Pedro Ostia-Vega consented to the entry of findings that he allegedly reused the signatures of 14 clients on more than 100 occasions from May 19, 2017, through October 31, 2022.

According to a Letter of Acceptance, Waiver & Consent (AWC), Pedro Ostia-Vega allegedly had clients’ permission to reuse their signatures on distribution requests, accounts transfer forms, new account agreements, and other documents. He allegedly also caused his firm, Raymond James, to maintain inaccurate books and records through this falsification.

The AWC concludes that these allegations constitute violations of FINRA Rules 4511 and 2010.

FINRA Rule 4511

FINRA Rule 4511 requires that firms maintain accurate books and records.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. The falsification or forgery of client signatures violates this rule.

Sanctions

Pedro Ostia-Vega consented to the following sanctions:

• 2-month suspension from associating with FINRA members
• $5,000 fine

His suspension will run from December 16, 2024, to February 15, 2025. You can access the full AWC here.

Background Information

Pedro Ostia-Vega has passed the following exams:

• Securities Industry Essentials Examination – SIE
• Canada Module of the General Securities Registered Representative (With Options Questions) – Series 37
• Uniform Securities Agent State Law Examination – Series 63

Pedro Ostia-Vega is a registered broker in 34 states and the District of Columbia.

Kurta Law Can Help

If you worked with Pedro Ostia-Vega 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 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.