Can you recover stock losses due to recommendations by former National Securities Corporation broker Ray San Pedro (CRD# 4565686)? He has been registered with Arete Wealth Management, LLC in Sunrise, Florida, since 2022. He was registered with National Securities Corporation in Miami, Florida, from 2008 to 2022.
He has been the subject of three customer complaints between 2012 and 2024, one of which was denied, according to his CRD report. The most recent complaint was regarding:
April 2024. “Client claims fraudulent and negligent misrepresentation and breach of fiduciary duties.” The customer is seeking $558,215 in damages, and the case is currently pending. The complaint was regarding common and preferred stock losses, and it took place while he was registered with National Securities Corporation.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, National Securities Corporation may be liable for investment or other losses suffered by Ray San Pedro’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
"*" indicates required fields
