Cesar Gabriel Hernandez of Old Bridge New Jersey a stockbroker formerly registered with Gentem Capital LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to cooperate with a FINRA investigation concerning his involvement in a customer identification program. Letter of Acceptance Waiver and Consent No. 2019064249401 (June 24, 2021).
According to the AWC, on May 10, 2021, Hernandez was asked by FINRA to testify in regard to his possible failure to establish and begin a customer identification program and an AML program. Hernandez relayed to FINRA that he would not testify at any time throughout FINRA’s investigation. The regulator determined that Hernandez violated Rules 2010 and 8210.
This is not the first time that Hernandez has been sanctioned by FINRA. He was fined $25,000.00 and suspended for three months based on his violation of NASD Rules 3011 and 2110 and FINRA Rule 2010. According to the AWC, Hernandez failed to implement an adequate program to detect suspicious activity.
FINRA Public Disclosure also reveals that on June 26, 2019, a customer filed an investment related civil action involving Hernandez’s activities in which the customer requested more than $15,000.00 in damages founded on accusations that they sustained damages in their general account because of Hernandez’s actions at Gentem Capital. Civil Action No. 2019-014474-CA-0. According to the lawsuit, there was a breach of fiduciary duty by the stockbroker.
Hernandez was associated with Gentem Capital between July 25, 2019 and November 8, 2019.