Arbitration process

Ray Anthony Garrido San Pedro of Miami, Florida, a stockbroker formerly registered with National Securities Corp., is the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $75,000.00 in damages based upon allegations that San Pedro made unsuitable recommendations with regard to the sale of private placements during the time that San Pedro was associated with National Securities Corp. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03786 (November 13, 2020).

FINRA Public Disclosure shows that San Pedro is referenced in three more customer initiated investment related disputes concerning San Pedro’s conduct while associated with securities broker dealers, including National Securities Corp. On October 10, 2013, a customer initiated investment related complaint involving San Pedro’s activities was settled for $17,000.00 in damages based upon accusations that San Pedro failed to follow instructions when he was associated with National Securities Corp.

On July 7, 2014, another customer filed an investment related complaint involving San Pedro’s conduct where the customer requested $6,775.00 in damages based upon allegations that San Pedro made unsuitable transactions in connection with the recommendation and sale of over-the-counter equities during the period that San Pedro was associated with National Securities Corp.

San Pedro is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $35,000.00 in damages based upon accusations that San Pedro made unsuitable recommendations, breached a fiduciary duty, and acted negligently with regard to the sale of private placements during the time that San Pedro was associated with National Securities Corp. FINRA Arbitration No. 19-02592 (October 6, 2021).

San Pedro’s registration with National Securities Corp. was terminated on July 20, 2022. San Pedro has been registered with Arete Wealth Management since July 21, 2022.