Nicholas C. McMahan, of Leander, Texas, a stockbroker formerly registered with BBVA Securities Inc., is the subject of a customer initiated investment related written complaint which was settled for $18,588.00 on August 26, 2021, supported by allegations of the customer being provided with false information from McMahan regarding a structured note purchased in July of 2018 when McMahan was employed by BBVA Securities. The complaint alleges that the customer was led to believe that they would receive a return of their principal upon maturity, but the structured notes resulted in losses.

This is not the first customer to have alleged sales practice violations by McMahan at a securities broker dealer. Financial Industry Regulatory Authority (FINRA) Public Disclosure also shows that on June 20, 2020, a customer filed an investment related complaint concerning McMahan’s conduct in which the customer requested compensatory damages founded on accusations of McMahan’s failure to disclose features and terms of non-principal protected structured notes, and that the customer would not have elected to invest in the structured notes if aware of the risks. According to the complaint, the customer sustained losses on structured notes purchased through McMahan in December of 2019.

McMahan was registered with BBVA Securities as a stockbroker between May 16, 2013, and June 4, 2021, and registered with BBVA Wealth Solutions Inc. as an investment adviser representative between March 24, 2017, and June 4, 2021. Since June 4, 2021, McMahan has been registered with Hilltop Securities as a stockbroker and investment adviser representative.

Tags: ,

Comments are closed.