Victim of Financial Fraud? Call Now

Rafael Cortez Allegedly Failed to Promptly Follow Client’s Instructions

Rafael Cortez (CRD #: 6712291), a broker registered with HSBC Securities, was recently involved in an investor dispute, according to his BrokerCheck record, accessed on January 26, 2023. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

On November 18, 2022, an investor filed a dispute alleging that they requested Rafael Cortez settle their funds in February 2022 and that his allegedly delayed response resulted in additional losses. The client further alleged that Rafael Cortez did not provide advice in keeping with their risk profile. The firm denied this dispute.

However, investors should be aware that firms don’t need to allow an outside review before denying a dispute. Investors may be able to recoup their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 2010

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

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must use the information described in an investor’s profile, such as their risk tolerance, tax status, and age when making recommendations.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

Background Information

Rafael Cortez 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

Rafael Cortez is a registered broker in all 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands. He is also a registered investment adviser in Florida, Massachusetts, New York, Pennsylvania, and Texas.

He has also worked for Investacorp (CRD#:7684) and AXA Advisors (CRD#:6627).

Kurta Law Can Help

If you worked with Rafael Cortez 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.