Securities Lawyers Blog
According to BrokerCheck records financial advisor Zachary Feinsilver (Feinsilver), employed by FMSBonds, Inc. (FMSBonds), has been subject to three customer complaints. According to records kept by The Financial Industry Regulatory Authority (FINRA) Feinsilver has been accused by a customers of unsuitable investment advice concerning recommendations to invest in Puerto Rico bonds. Puerto Rico has been devastated by a $70 billion debt it cannot pay in addition to extensive hurricane damage. However, according to news reports, the process to resolve Puerto Rico’s debts could take years. In fact, it has taken more than two years of debate with Puerto Rico’s government, creditors, and federal lawmakers just to get to this point.
In February 2018 a client complained that certain aspects of bonds were misrepresented by Feinsilver. The complaint was closed.
In December 2017 another customer complained that Feinsilver made unsuitable investments in Puerto Rico bonds claiming $100,000 in damages. The claim was settled for $50,000.