Our attorneys are investigating potential claims on behalf of clients of broker Daniel Vasquez, of Irvine, California. FINRA recently barred Daniel Vasquez for life from acting as a broker or working for firms that sell securities to the public. According to FINRA’s Broker Check Report, Mr. Vasquez received numerous consumer complaints in recent years asserting a variety of broker misconduct, including charges that he misrepresented and made unsuitable investments and recommendations, that he made unauthorized investments, and that he accepted personal loans from clients that he failed to repay.
According to the FINRA Broker Check Report, Mr. Vasquez worked as a broker since 1998. Mr. Vasquez worked for six different brokerage firms in the Newport Beach, California area in the past ten years alone, including:
- Cetera Advisors (2013-2016)
- Investors Capital Corporation (2011-2013)
- Foothill Securities (2009-2011)
- Associated Securities (2008-2009)
- First Midwest Securities (2007-2008)
- Transamerica Financial Advisors (2007)
Misrepresentation, Unsuitable Investments: Common FINRA Violations
Under FINRA rules, brokers and brokerage firms are prohibited from recommending investments that are inappropriate for the investor’s circumstances and desired levels of risk and return. Additionally, brokers are prohibited from misrepresenting investments, which means failing to disclose all material facts, providing unrealistic projection assumptions, or failing to conduct the appropriate due diligence regarding an investment.
Under the law, a securities brokerage firm may be held liable for the losses suffered by its customers who purchased the unsuitable or misrepresented investment from its employee-broker.
Girard Gibbs’ Financial Fraud Experience
Girard Gibbs’ financial fraud and securities fraud lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.
We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).
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