Wilfredo Felix Jr. of New York New York the chief executive officer of Primex is the subject of a Financial Industry Regulatory Authority (FINRA) investigation into accusations that Felix violated FINRA and NASD Rules pertaining to the supervision of business practices.
FINRA’s investigation reveals that Felix may have failed to provide FINRA with a response during an investigation into his activities; conduct violative of FINRA Rule 8210. Additionally, Felix may have violated FINRA Rules 2010 and 4511 for failing to maintain accurate records with the firm concerning business activities; and violations of NASD Rules 3110 and 3010 for failing to supervise business practices of the firm to ensure that the firm complied with FINRA Rules.
FINRA Public Disclosure reveals that Felix is referenced in two more customer initiated investment related disputes pertaining to allegations of his violative conduct during the time that he was associated with Primex and Primex Prime Electronic Execution, Inc. Particularly, Felix was subject of a customer initiated investment related arbitration claim where the customer was awarded $17,130.00 in damages based on Felix being found liable on the customer’s claims that Felix misrepresented investments, negligently transacted in the customer’s account and executed transactions that were not suitable for the customer. FINRA Arbitration No. 07-02178 (May 9, 2008).
Then, Felix was subject of a customer initiated investment related arbitration claim in which the customer sought $103,024.00 in damages based upon accusations that Felix effected equity transactions in the customer’s account that were not suitable for the customer. FINRA Arbitration No. 17-02774 (Nov. 21, 2017).
Felix has been associated with six different broker dealers, four of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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