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Felipe Henao: Insigneo Advisor Fined over Trading Allegations
A recent sanction against former Miami financial advisor Felipe Henao (CRD# 5140431) alleges that he made unauthorized transactions in a customer account. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with Insigneo Securities, doing business as GCH Advisors.
Mr. Henao’s BrokerCheck report discloses the FINRA sanction against him. Filed in December 2023, it describes allegations that he made discretionary trades in a customer’s account without authorization from the customer or approval from Insigneo Securities. “The findings stated that Henao exercised discretion in a customer’s account by initiating a substantial short position in a volatile exchange-traded note,” according to the disclosure, which adds: “After the trade went against his customer, Henao closed out the position.” He allegedly “aggravated his misconduct” when he proceeded to communicate with a family member of the customer “using an unapproved communication channel.” In connection with these findings, FINRA issued him a fine of $7,500 and a 45-day suspension from acting as a broker.
His BrokerCheck report also discloses an investor complaint. Filed in 2020, it alleged that as a representative of Insigneo Securities, he placed a short trade involving an exchange-traded note, and then “placed a subsequent trade to cover the short,” resulting in the client expressing concerns about depreciation in the account and “the lack of communication from Mr. Henao.” In December 2021 the complaint reached a settlement of $1.075 million.
According to the Financial Industry Regulatory Authority, Felipe Henao holds 14 years of securities industry experience. Most recently based in Miami, Florida, he was registered with Insigneo Securities from 2016 until 2022. His previous registrations include Bolton Global Capital (Miami, Florida; 2011-2015) and Merrill Lynch (Miami, Florida; 2007-2011). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is currently suspended from acting as a broker. (Information current as of January 16, 2024.)
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