Desiderio Eloy Torrez, of San Diego, California, a stockbroker registered with PFS Investments Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Torrez failed to provide information and documents to FINRA when it investigated possible violations of FINRA rules. Letter of Acceptance, Waiver, and Consent No. 2021072500701 (December 20, 2022).
According to the AWC, on February 1, 2022, Torrez was sent a request for the production of information and documents by FINRA staff concerning a customer complaint made against Torrez during the time that he was associated with PFS Investments Inc. Torrez provided some of the documents and information, but it was determined by the regulator that Torrez failed to substantially comply with its request. FINRA sent Torrez additional requests for documents and information. On November 14, 2022, Torrez stated he would not produce the documents at any time. Therefore, Torrez violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Torrez was also referenced in a customer initiated investment related complaint filed on August 23, 2021, in which the customer requested $115,500.00 in damages resulting from Torrez’s recommendation to invest in Meso Healthy, LLC, ostensibly and unregistered and unapproved security, when Torrez was associated with PFS Investments Inc.
Torrez was associated with PFS Investments Inc. in San Diego, California, as a stockbroker from January of 2009 to January of 2021.
