FINRA fined Carlos Benavidez Jr., $10,000 and suspended him for two months

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Furgison Law Group investigates claims againstCarlos Benavidez Jr.

Carlos Benavidez Jr., under investigation

The securities fraud lawyers at Furgison Law Group are currently investigating claims against Carlos Benavidez Jr., Waddell & Reed and International Assets Advisory, LLC. The arbitration specialists at Furgison Law Group are investigating claims involving allegations of breach of fiduciary duty, failure to supervise, misrepresentations, omissions of material facts, conflict of interests, violations of state and federal securities laws, along with other broker misconduct.

FINRA fines 

FINRA fined Carlos Benavidez Jr. (CRD #5013554, Louisville, Kentucky) $10,000 and suspended him from association with any FINRA member in any capacity for two months. Benavidez consented to the sanctions and to the entry of findings that he exercised discretion in effecting hundreds of securities transactions in customers’ accounts without obtaining the customers’ prior written authorization or his firm’s prior written approval. The findings stated that Benavidez participated in the backdating of customers’ notes that had been created in a firm program in order to falsely reflect that he or another representative had conversations with the customers on a previous date, before the trades were effected. The suspension is in effect from February 1, 2016, through March 31, 2016. (FINRA Case #2014043025701)

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered loses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages. 

Can I recover my investment losses?

If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Carlos Benavidez Jr., Waddell & Reed or International Assets Advisory, LLC, please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.