Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Pedro Ostia-vega (Ostia-vega), currently associated with Raymond James (USA) Ltd., has at least one disclosable event. These events include one tax lien, alleging that Ostia-vega recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on November 19, 2024.
Without admitting or denying the findings, Ostia-Vega consented to the sanctions and to the entry of findings that he reused 14 customers’ signatures on more than 100 separate forms, including distribution requests, new account agreements, account transfer forms, and other required firm books and records, with the customers’ permission. The findings stated that the transactions effected through these forms were all authorized by the customers. The findings also stated that by falsifying customer signatures, Ostia-Vega caused his member firm to maintain inaccurate books and records.
