Hector Jesus Hernandez, of Shavano Park, Texas, a stockbroker registered with Money Concepts Capital Corp, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because he failed to cooperate with FINRA’s investigation into his potential failure to disclose an “outside business activity” while associated with Money Concepts Capital Corp. Letter of Acceptance, Waiver, and Consent No. 2021073535701 (November 20, 2023).
According to the AWC, Hernandez’s association with Money Concepts Capital Corp ended when the securities broker dealer filed a Form U5 stating his voluntary termination during an internal investigation into his possible outside business activities. On October 24, 2023, FINRA sent a request to Hernandez for testimony as part of this investigation. However, Hernandez, through his lawyer, communicated to FINRA on November 7, 2023, his decision not to appear for the testimony. Therefore, he violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Hernandez is also referenced in a customer initiated investment related FINRA securities arbitration in which the customer requested compensation based upon allegations that Hernandez made unsuitable recommendations, breached a contract, failed to disclose a commission sharing arrangement, and violated FINRA rules in connection with the sale of annuity and insurance products during the time that Hernandez was associated with Money Concepts Capital Corp. FINRA Arbitration No. 22-01827 (August 22, 2022).
Hernandez was associated with Money Concepts Capital Corp in Shavano Park, Texas, from July 18, 2012, to December 17, 2021. He was also associated with Peak Brokerage Services LLC in San Antonio, Texas, from December 22, 2021, to April 8, 2022.
