September 2016- San Antonio, Texas
The Texas State Securities Board (TSSB) sanctioned San Antonio investment adviser firm Rubicon Investment Management & Analytics and barred its president Michael Yves Heridia from serving in any supervisory capacity at Rubicon for eight years.
The TSSB alleged that Rubicon’s supervisory procedures were inadequate and did not address the suitability of recommendations in client accounts and other issues.
In addition to the suspension Heridia from acting in a supervisory capacity, Rubicon was reprimanded and assessed an administrative fine of $5,000.
FINRA records indicate that Michael Heridia was last registered as a broker with Synergy Investment Group from 4/2006-11/2007.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
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