Advisor Hector Jesus Hernandez Barred
We shed light on a significant case of financial advisor misconduct that underscores the critical nature of FINRA regulations and the need for investor protection.
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The Case of Hector Jesus Hernandez
A stockbroker from Shavano Park, Texas, Hector Jesus Hernandez, has faced severe repercussions for his actions, leading to a ban from associating with any Financial Industry Regulatory Authority (FINRA) member. This disciplinary measure was enforced due to Hernandez’s refusal to cooperate with FINRA’s investigation into his undisclosed “outside business activity” while he was associated with Money Concepts Capital Corp.
Hernandez’s professional relationship with Money Concepts Capital Corp came to an end after the broker-dealer submitted a Form U5, citing his voluntary termination amid an internal probe into potential outside business engagements. On October 24, 2023, FINRA requested Hernandez’s testimony regarding this matter. However, through his attorney on November 7, 2023, Hernandez opted not to provide the requested testimony, thereby breaching FINRA Rules 2010 and 8210.
Further Allegations and Arbitration
The situation is further complicated by a customer-initiated investment-related FINRA securities arbitration against Hernandez. The customer’s claim includes allegations of unsuitable recommendations, breach of contract, undisclosed commission-sharing arrangements, and violations of FINRA rules, particularly in relation to the sale of annuity and insurance products during Hernandez’s tenure at Money Concepts Capital Corp. This arbitration, filed under FINRA Arbitration No. 22-01827 on August 22, 2022, emphasizes the importance of due diligence and strict adherence to regulatory standards within the financial services sector.
Our Commitment to Protecting Investors
At Meyer Wilson, our dedication to protecting investors and ensuring financial professionals maintain the highest levels of integrity and professionalism is unwavering. If you or someone you know has been impacted by the actions of a financial advisor or broker, we are here to offer support and guidance. Our team of experts is equipped to assist you in navigating the complexities of investment fraud and securities litigation.
Understanding the intricacies of FINRA regulations and the mechanisms of investor protection is essential in today’s financial landscape. This case study not only highlights the consequences of financial advisor misconduct but also reinforces the importance of vigilance and informed decision-making among investors.
For more information or to schedule a consultation, please contact us at 866-938-2021 or visit our website at investorclaims.com.
Written By: Courtney Werning
Recovering Losses Caused by Investment Misconduct.