Former BBVA Securities Inc. broker Juan Rascon (CRD# 5631144) faces a $1 million customer complaint related to unsuitable investment recommendations. He has been registered with Cetera Investment Services LLC and in Cetera Investment Advisers LLC in Houston, Texas, since 2019. Previously, he was registered with BBVA Securities Inc. and BBVA Wealth Solutions Inc. in Houston, Texas, from 2013 to 2019.
Juan Rascon Customer Complaints
He has been the subject of two customer complaints between 2014 and 2023, according to his CRD report. The most recent complaint was regarding:
May 2023. “Claimant inherited her father’s self-directed brokerage account. In 2015, claimant moved account to firm and pledged the assets to secure a line of credit with firm’s former affiliate bank. Said line of credit was in the name of claimant and her husband (who she has since divorced). Brokerage account was claimant’s sole property under Texas law. Claimant asserts that firm breached its fiduciary duty and failed to make suitable recommendations in allowing claimant to pledge her sole property assets against the joint debt and by allowing her to make equity investments in a self-directed account.” The customer is seeking $1,000,000 in damages, and the case is currently pending. The complaint was regarding a self-directed discount brokerage account, and it took place while he was registered with BBVA Securities Inc.
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, BBVA Securities Inc. may be liable for investment or other losses suffered by Juan Rascon’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
