Alex Ernesto Batlle, of San Francisco, California, a stockbroker formerly registered with Princor Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to communicate with FINRA staff in reference to his business activities. Letter No. 2015047755401 (May. 25, 2016).
FINRA Public Disclosure confirms that Batlle has been identified in four customer initiated investment related disputes containing allegations of Batlle’s misconduct while employed with Princor Financial Services Corp. In particular, on February 18, 2010, a customer initiated investment related written complaint regarding Batlle’s activities was resolved for $35,824.57 in damages based upon allegations that he failed to appropriately explain the terms and conditions of the customer’s variable annuity investment.
Subsequently, on November 13, 2015, a customer initiated investment related written complaint involving Batlle’s conduct was settled for $2,000.00 in damages, wherein the customer’s claim was supported by allegations that Batlle failed to invest the customer’s monies in mutual funds as instructed.
Further, on July 29, 2016, a customer initiated investment related written complaint regarding Batlle’s activities was resolved for $19,500.00 in damages based upon allegations that he misplaced the customer’s $15,000.00 intended for investments. Batlle has also been subject of a customer initiated investment related arbitration claim, which settled on November 22, 2016, for $17,604.86 in damages founded upon allegations that Batlle failed to accurately explain the level of risk that the customer was exposed to for investments held in the customer’s variable annuity.
Batlle was fired from Princor Financial Services Corporation on April 23, 2015, based upon allegations that he did not furnish accurate details to the employer about his activities.
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