Rodrigo Figueroa Allegedly Misrepresented Material Facts Regarding a Variable Insurance Policy
Rodrigo Figueroa (CRD #:6807507), a broker and investment advisor registered with Equitable Advisors, is involved in his first investor dispute, according to his BrokerCheck record, accessed on November 22, 2021.
On November 1, 2021, an investor filed a claim against Rodrigo Figueroa, alleging he misrepresented material facts regarding a variable insurance policy sold in 2019. The case is still pending. Variable insurance policies invest part of the investor’s premiums. These can be risky products and are not suitable for everyone.
What is Misrepresentation/ Omission?
Misrepresentation is a common problem in the securities industry. It usually occurs when an investment broker makes false or misleading statements about a financial product in an effort to persuade their customer to invest.
Misrepresentations and omissions concerning material facts in investment recommendations deprive investors of the information they need to assess risks associated with a particular investment. FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. This unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.
Losses attributed to a stockbroker's material misrepresentations of facts may result in a viable securities arbitration claim for damages.
Rodrigo Figueroa 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
He is a registered broker in eight states. He is also a registered investment advisor in six states.
Other than Equitable Advisors, Rodrigo Figueroa has not worked with any other firm.
Kurta Law Can Help
If you have worked with Rodrigo Figueroa and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors 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.