Ruben Javier Frezzotti also known as R. Frezzotti, of Coral Gables, Florida, a stockbroker registered with Raymond James Associates Inc., was discharged by the securities broker dealer on September 21, 2023, for failing to comply with policies of the securities broker dealer concerning “outside business activities.”
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Frezzotti was referenced in seven other customer initiated investment related disputes concerning his conduct while associated with securities broker dealers. On April 9, 2010, a customer filed an investment related complaint involving Frezzotti’s conduct, requesting $46,007.00 in damages. The allegations centered on unauthorized trading while Frezzotti was associated with Morgan Keegan Company Inc. The complaint was later denied.
On February 22, 2011, another customer filed an investment related complaint involving Frezzotti’s conduct, requesting $11,000.00 in damages. The complaint alleged unsuitable recommendations in Inland American Real Estate, given the illiquidity of the REIT.
Frezzotti was referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $5,000.00 in damages. This settlement was based on allegations of unsuitable recommendations in REITs and variable annuities, misrepresentation of material facts, and churning of the customer’s account while Frezzotti was associated with Morgan Keegan Company Inc. FINRA Arbitration No. 11-04591 (November 14, 2012).
On December 18, 2013, a different customer initiated investment related FINRA securities arbitration claim involving Frezzotti’s conduct was settled for $25,000.00 in damages. The claim alleged misrepresentation of material facts in connection with a real estate investment trust. FINRA Arbitration No. 12-01850.
Frezzotti was also the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $43,827.00 in compensatory damages. Frezzotti, Morgan Keegan Company Inc., and Raymond James were held liable for sales practice violations. The Statement of Claim alleged negligence, breach of fiduciary duty, violation of Florida law, breach of contract, and fraud in connection with the sale REITs. FINRA Arbitration No. 17-03139 (September 20, 2019).
Frezzotti was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $900,000.00. The claim alleged that Frezzotti recommended unsuitable offshore fixed annuities. FINRA Arbitration No. 21-01873 (January 5, 2023). The claim alleged that the issuers of the annuities became insolvent.
Frezzotti was associated with Raymond James Associates Inc. in Coral Gables, Florida, from February 13, 2013, to October 10, 2023.
