Victoria Reyes Embroiled in Her Fifth Investor Dispute

Victoria Reyes Solarte: (CRD #:4369051), a registered broker and investment advisor with Popular Securities, is involved in her fifth investor dispute, according to her BrokerCheck record, accessed on April 5, 2022. Keep reading for more details.

Investor Allegations

Between 2014 and 2021, Victoria Reyes Solarte was involved in four investor disputes alleging that she recommended Puerto Rico-based securities and bonds. Allegations state that these investments were unsuitable and over-concentrated. She also allegedly misrepresented the risks of Puerto Rico-based investments. 

Settled Disputes

Victoria Reyes Solarte has settled four investor disputes for approximately $415,500.

Puerto Rico Securities

Puerto Rico’s financial woes have been well-documented. Until recently, the U.S. territory had a national debt of $74 billion and only recently exited bankruptcy. Investors have been embroiled in lawsuits attempting to recover losses since 2017. Investors should have been made aware that there were significant risks associated with investing in financial products based in Puerto Rico.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age. Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

• Investments can be unsuitable because they are high risk and likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
• Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.

Background Information

Victoria Reyes Solarte has passed the following exams:

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

Victoria Reyes Solarte is a registered broker in 15 states. She is also an investment advisor in Puerto Rico. 

Besides Popular Securities, Victoria Reyes Solarte has also worked with Wells Fargo Advisors (CRD#:19616) and Prudential Securities Incorporated (CRD#:7471).

Kurta Law Can Help

If you suffered losses after working with Victoria Reyes Solarte, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com 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.