Investment fraud lawyers are currently investigating claims on behalf of the customers of Florlena Cortez, a former broker for Chase Investment Services Corp. Cortez is also known as Florlena Cortez Alva and Florlena Cortez Guerrero, CRD No. 4339441. Cortez was registered with Chase from May 2002 to February 2012, and securities arbitration lawyers say that the firm could be held responsible for customer losses suffered during the time she was registered with the firm if Chase did not adequately supervise her activities.
Reportedly, Cortez entered into a Letter of Acceptance, Waiver and Consent in which the Financial Industry Regulatory Authority (FINRA) alleged that Cortez participated in private securities transactions from 2009 to 2010 “that were outside the regular course and scope of her association with Chase Investment Services. Cortez did not provide prior written notice to Chase Investment services describing in detail the proposed transactions and her proposed role in them, including whether she had received or would receive selling compensation in connection with the transactions.”
According to the letter, Cortez “informed FINRA that she will not appear to testify at an on-the-record interview” regarding whether she engaged in “undisclosed private securities transactions and outside business activities while registered with Chase Investment Services.” Cortez has been barred from association with any FINRA member.
Under FINRA rules, firms have an obligation to fully disclose all the risks of a given investment when making recommendations, and those recommendations must be suitable for the individual investor receiving the recommendation given their age, investment objectives and risk tolerance. Furthermore, investment fraud lawyers say that firms have an obligation to properly supervise brokers’ activities while they are registered with the firm.
If you suffered significant losses as a result of doing business with Florlena Cortez, you may be able to recover your losses through securities arbitration. To find out more about your legal rights and options, contact a securities arbitration lawyer at Law Office of Christopher J. Gray, P.C. at (866) 966-9598 for a no-cost, confidential consultation.