Juan Carlos Uribe of Houston Texas a stockbroker formerly employed by Wells Fargo Clearing Services has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Uribe failed to provide information to FINRA personnel that was requested of him. FINRA Case No. 2018059719801 (Nov. 19, 2018).
FINRA Public Disclosure reveals that after Uribe initially failed to cooperate with FINRA’s request, FINRA sent Uribe a Notice of Suspension letter on October 24, 2018, under Rule 9552. Uribe’s suspension commenced on November 19, 2018, which precluded him from engaging in any securities business on behalf of FINRA member firms.
FINRA reportedly warned Uribe in its correspondence that on January 28, 2019, Uribe will be automatically if by that time he fails to provide the information to FINRA or seek that his suspension be terminated on other grounds.
Prior to FINRA’s imposition of the suspension, on August 6, 2018, Wells Fargo Clearing Services discharged Uribe based upon allegations that Uribe was involved in an outside business activity which the firm had not approved involving a Wells Fargo customer’s contribution of funds that were not repaid in a timely manner. Given the close proximity of Uribe’s termination to FINRA’s imposition of a suspension, FINRA may have been inquiring into the nature of Uribe’s termination.
Moreover, FINRA Public Disclosure confirms that Uribe is referenced in two customer initiated investment related disputes pertaining to accusations of Uribe’s violative conduct during the time that he was associated with J.P. Morgan Securities LLC. Specifically, on November 27, 2013, a customer filed an investment related complaint involving Uribe’s conduct where the customer requested $37,477.25 in damages supported by allegations that inappropriate transactions were effected in the customer’s managed investment account.
Then, on May 25, 2015, a customer filed a complaint regarding Uribe’s activities in which the customer sought $70,000.00 in damages founded on accusations that investment related misrepresentations were made to the customer concerning the customer’s managed account.
