Manuel Francisco Porrata Monserrate, of San Juan, Puerto Rico, a stockbroker formerly registered with Oriental Financial Services Corp., has been named in a customer initiated investment related arbitration claim, which settled on September 27, 2016, for $90,000.00 in damages based upon allegations that Monserrate effected unsuitable municipal debt transactions in the customer’s account in reference to Puerto Rico Electric and Power Authority bonds, and omitted information from the customer regarding the risks of the bond investments.
Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on December 27, 2013, Monserrate was named in a customer initiated investment related written complaint, in which the customer requested $27,500.00 in damages based upon allegations that he misstated risks associated with investments in Puerto Rico closed end mutual funds, and claimed that customer’s investments would be guaranteed against loss.
Monserrate’s securities registration with Oriental Financial Services Corp. was terminated on January 17, 2017. Since January 4, 2017, he has been registered with Nationwide Planning Associates Inc.
Guiliano Law Group
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