Last Updated: May 2024 (Sunrise, FL)
Ray Anthony San Pedro Investigation Summary
Here’s what you need to know about Sunrise, FL, stockbroker Ray Anthony San Pedro:
- Name: Mr. Ray Anthony Garrido San Pedros
- Current Employer: Arete Wealth Management
- DBA: WallStMade, Fincadia Wealth Managment, FIncadia Capital Partners
- Previous Firms: National Securities Corp., Rockwell Securities
- Function: Stock Broker/ Financial Advisor
- Aliases: Ray Anthony, Ray Anthony San Pedro
- CRD 4565686
- Can Ray Anthony be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $75,000
- Pending Customer Dispute Seeks Damages of $558,215
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Ray Anthony San Pedro As Your Stockbroker?
In 4/2024 a customer of National Securities Corp. filed a FINRA arbitration alleging that Ray Anthony made fraudulent and negligent misrepresentations and breached his fiduciary duty when recommending investments. Damages of $558,215 are sought in this currently pending matter.
Anthony discloses two other settlements with customers of National Securities Corp. In 2021 a customer was paid $75,000 to settle a FINRA arbitration alleging that Anthony made unsuitable recommendations to invest in private placements. In 2013 another customer was paid $17,000 to resolve allegations that Anthony failed to follow instructions.
Private Placements under Reg D: What is a Private Placement? According to the U.S. Securities and Exchange Commission (SEC):
“Under the federal securities laws, a company may not offer or sell securities unless the offering has been registered with the SEC or an exemption from registration is available. Offerings exempt from the SEC’s registration requirements pursuant to Securities Act Section 4(a)(2) or its safe harbor under Regulation D of the Securities Act are often referred to as private placements.”
The SEC warns that unregistered offerings may be utilized to conduct investment scams and that investors should have the ability to weather a total loss in these illiquid investments. See this SEC Investor Alert about red flags to watch out for in unregistered offerings.
Allegations of Broker Misconduct Against Ray Anthony San Pedro
Customers of Ray Anthony have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendations
- Misrepresentations
- Failed to follow instructions
[LEARN MORE]:
See this for more information on REITs and Other Alternative Investments
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
[LEARN MORE]: FINRA Rule 2111- suitability -Regulation Best Interest
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
[LEARN MORE]:
Investigations of other Arete Wealth Management Brokers
Investigations of other National Securities Corp. brokers
If you have suffered investment losses in an account handled by Ray Anthony, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.