Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on May 2, 2018 indicate that Uruguay-based Insigneo Securities broker Andres Jaraj has received a customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Jaraj (CRD# 5253088).
Andres Jaraj has spent 10 years in the securities industry and has been registered with Insigneo Securities in Montevideo, Uruguay since July 2017. Previous registrations include Northeast Securities in Montevideo, Uruguay (2012-2017); Barclays Capital in New York, New York (2008-2012); and Lehman Brothers in Buenos Aires, Argentina (2007-2008). He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on January 3, 2011, and Series 7 (General Securities Representative Examination), which he obtained on June 30, 2007. He is a registered broker with one US state, Florida, and one self-regulatory organization: FINRA.
According to his BrokerCheck report, he has received one customer complaint.
In February 2017 a customer alleged Andres Jaraj, while employed at Northeast Securities, participated in excessive trading of US government bond securities between November 2012 and April 2015. The complaint settled in November 2017 for $200,000.
“Churning,” or excessive trading, refers to the excessive execution of trades in a client account for the primary purpose of generating commissions for the broker or investment adviser. In churning cases, a broker does not buy, sell, or trade securities in order to advance a client’s investment goals. Instead, large volumes of transactions are made in order to increase fees and charges. Investment professionals who participate in excessive trading may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has a complaint regarding Andres Jaraj, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.