Securities Lawyers Blog
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) former advisor Alex Herrera (Herrera), formerly associated with UBS Financial Services Inc. (UBS) in Coral Gables, Florida was barred by FINRA. In the regulatory action FINRA claimed that Herrera consented to the sanction and findings that he refused to provide information requested by FINRA in connection with its investigation of his possible participation in unreported outside business activities (OBAs) and private securities transactions.
At this time it is unclear the nature or scope of the alleged OBAs and private securities transactions that Herrera was involved in. However, in May 2018 a customer filed a complaint alleging that Herrera stole her money to buy a vacation home. The claim is currently pending.