Barred former First Allied Securities, Inc. broker Rene Bolivar (CRD# 3275996) accused of investment losses. He was registered with First Allied Securities, Inc. in Salinas, California, from 2007 to 2021. Previously, he was registered with Linsco/Private Ledger Corp. in Monterey, California, from 2003 to 2007, when he was terminated regarding, “violation of firm policies and procedures with respect to using photocopied signatures on customer forms and failing to obtain required client signed paperwork.”
In April 2023, he was barred by FINRA after he” consented to the sanction and to the entry of findings that he refused to produce documents and information and failed to appear for on-the-record testimony requested by FINRA in connection with an investigation into a disclosure made in his former member firm’s amended Form U5 that disclosed a civil lawsuit filed against the firm and Bolivar by the relative of a former customer.”
Rene Bolivar Customer Complaints
He has been the subject of two customer complaints between 2004 and 2021, one of which was denied, according to his CRD report:
December 2021. “Successor trustee alleges that registered representative was improperly named a beneficiary of deceased client’s trust.” The case is currently pending.
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, First Allied Securities, Inc. may be liable for investment or other losses suffered by Rene Bolivar’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.
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