Robert Renteria (also known as Roberto Herrera) of El Paso Texas a stockbroker formerly registered with PFS Investments Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Renteria lied to FINRA about borrowing from a customer of PFS Investments. Letter of Acceptance Waiver and Consent No. 2020065896801 (Apr. 13, 2020).
According to the AWC, on August 30, 2019, a request was sent to Renteria from FINRA which called upon the stockbroker to provide documentation and information relevant to the accusations of him borrowing customer funds without authorization. The AWC revealed that a signed statement was provided to the regulator by Renteria in response in which he conveyed that a customer had loaned him $1,600.00 and that the customer was repaid in full. FINRA indicated that Renteria lied as he actually borrowed at least $20,000.00 and the customer had not been repaid. The AWC stated that Renteria was barred for having falsified information to the regulator in violation of FINRA Rules 2010 and 8210.
Renteria has also been fined $5,000.00 and suspended for three months from associating with any FINRA member in any capacity based upon findings of him entering into a customer loan arrangement without PFS Investments’ knowledge or consent. Renteria’s conduct was found by FINRA to be violative of Rules 2010 and 3240. Letter of Acceptance Waiver and Consent No. 2019063663401 (Dec. 4, 2019).
Renteria was discharged by PFS Investments on August 13, 2019 after admitting to borrowing from one of its customers.
