Former UBS Financial Services Inc. financial advisor Alex Herrera (CRD# 3204779) barred by FINRA regarding unreported outside business activities and private securities transactions. Herrera was registered with UBS Financial Services Inc. in Coral Gables, Florida from 2012 to 2018.
In August 2018, FINRA barred Herrera after he consented to the sanction and to the entry of findings that he refused to provide information requested by FINRA in connection with its investigation of his possible participation in unreported outside business activities and private securities transactions.
Herrera has been the subject of one customer complaint, according to his CRD report:
May 2018. “March 1, 2018 to April 17, 2018 The client’s attorney alleges the Financial Advisor stole her client’s money to buy a vacation home.” The case is currently pending.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, UBS Financial Services Inc. may be liable for investment or other losses suffered by Herrera’s customers.
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