Walter Roland Valenzuela, of Del Mar, California, a stockbroker currently registered with Hilltop Securities, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer requested $9,500,000.00 in damages supported by allegations of elder abuse, misrepresentation, excessive trading, breach of fiduciary duty, excessive mark-downs and mark-ups, inappropriate margin use, suitability, and churning of the customer’s unit investment trust and municipal bond portfolio. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-03005 (Aug. 24, 2017).
FINRA Public Disclosure confirms that Valenzuela has been identified in five additional customer initiated investment related disputes containing accusations of Valenzuela’s improper conduct during the period that he was employed with ML Stern & Co. LLC, Southwest Securities, Inc. and Hilltop Securities Inc. Specifically, a customer initiated investment related arbitration claim involving Valenzuela’s conduct was settled for $20,700.00 in damages based upon allegations of breach of fiduciary duty and misrepresentation pertaining to the customer’s high-yield corporate bond purchases. National Association of Securities Dealers (NASD) Arbitration No. 99-01320 (Feb. 21, 2000).
Subsequently, on February 14, 2011, a customer filed an investment related written complaint regarding Valenzuela’s activities, in which the customer requested $17,500.00 in damages founded on accusations that Valenzuela omitted information pertaining to the issuer of municipal bond investments. Then, on May 11, 2011, a customer filed an investment related written complaint involving Valenzuela’s conduct, in which the customer sought $133,378.47 in damages supported by allegations that the liquidation of the customer’s municipal bond portfolio was not authorized.
Further, on April 9, 2013, a customer initiated investment related written complaint regarding Valenzuela’s activities was resolved for $32,000.00 in damages based upon accusations of breach of fiduciary duty, misrepresentation, and unsuitable investment recommendations relating to the customer’s municipal securities transactions.
Valenzuela is also subject of a customer initiated investment related written complaint on August 26, 2017, in which the customer requested at least $5,000.00 in damages founded on accusations that Valenzuela made misrepresentations to the customer, in which he failed to apprise the customer about investment risk and the fees for unit investment trust transactions.
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