Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial advisor Ariel Rivero (Rivero) has at least two disclosable events. These events include two customer complaints alleging that Rivero engaged in some form of investment related misconduct in the handling of the client’s accounts. Rivero is currently employed by Insigneo Securities, LLC (Insigneo). Rivero’s customer complaints alleges that Rivero recommended unsuitable investments in different investment products including options, ETFs, and private placements that include LMS Investments LLC and Octagon, S.A.
In April 2022 a customer complained that Rivero violated the securities laws by alleging that Rivero breached their fiduciary duties by recommending, failing to supervise the recommendation of, and misrepresenting the risks and facts related to two unsuitable outside investments. The investor alleged damages of $999,999 and the claim is currently pending.
In September 2021 a customer complained that Rivero violated the securities laws by alleging that Rivero breached fiduciary duties by placing the investor into unsuitable and risky investments; unauthorized use of client funds; and failure to supervise and to maintain adequate system of supervision from late 2020 onward. The claim settled for $260,000.