Victor M Torres (CRD #5919902) Has 8 Customer Dispute Disclosures and 1 Employment Separation Disclosure on FINRA BrokerCheck

Victor M Torres (CRD #5919902) was previously registered with Equitable Advisors, LLC and has eight customer dispute disclosures and one employment separation disclosure on FINRA BrokerCheck. We reviewed his BrokerCheck report on April 20, 2026. If you invested with Victor M Torres and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Victor Torres’s FINRA BrokerCheck Report reflects eight customer dispute disclosures. Under the category limit, two examples are summarized below. Six additional customer dispute disclosures also appear on BrokerCheck.

On February 17, 2026, claimants alleged unsuitability and misrepresentation by the RR in connection with two VUL policies purchased in 2023 and 2024. Victor Torres FINRA BrokerCheck lists the product type as insurance. The matter is pending in FINRA arbitration under docket no. 26-00352, and the filing date is February 13, 2026. Claimants seek damages between $100,000 and $500,000.

On February 12, 2026, a client alleged the RR misrepresented the tax benefits of a VUL policy purchased in 2023. Victor Torres FINRA BrokerCheck lists the product type as insurance. The written complaint is pending, and BrokerCheck states the firm determined potential damages are greater than $5,000.

Employment Separation

Victor Torres’s FINRA BrokerCheck Report reflects one employment separation disclosure. A summary of that disclosure is below:

On September 20, 2013, Victor Torres voluntarily resigned from NMIS, LLC while under internal review for failing to disclose material underwriting information on client applications for non-variable insurance. Victor Torres FINRA BrokerCheck lists the product type as insurance.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a broker to have a reasonable basis to believe a recommendation is suitable for the customer. Disputes involving VUL policies can raise questions about risk, liquidity, cost, and whether the product fit the customer’s profile.

Rule Summary #2: FINRA Rule 2210 (Communications with the Public)

FINRA Rule 2210 requires communications with the public to be fair and not misleading. Complaints about misrepresented tax benefits or policy features can raise questions about how the product was described to customers.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Victor Torres:

Is not currently registered.

Has passed the Securities Industry Essentials (SIE) exam and Series 6.

Was previously registered with Equitable Advisors, LLC, Equity Services, Inc., SagePoint Financial, Inc., and Northwestern Mutual Investment Services, LLC.

Kurta Law Can Help

If you have worked with Victor Torres and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. A securities attorney can help you assess potential causes of action and determine whether your losses may be recoverable through FINRA arbitration or other avenues. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Unsuitable Investments

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.