An investor complaint against Hilltop Securities advisors Brad Winges (CRD# 1929509) and Steve Coma (CRD# 1414147) alleges eight-figure damages. Financial...Read More
Robert Renteria: FINRA Bars Ex-PFS Investments Broker
Robert Renteria (CRD# 5773053), a financial professional formerly based in El Paso, Texas, was recently barred by the Financial Industry Regulatory Authority in connection to allegations he provided FINRA with false information during its investigation into whether he took an unapproved loan from a customer.
According to a Letter of Acceptance, Waiver and Consent (No. 2019063663401) dated December 2019, Robert Renteria was associated with PFS Investments when, between February 2018 and July 2019, he borrowed a sum of about $1,500 from a firm customer. FINRA states that he did not notify the firm about the loan or receive its approval; he also allegedly attested falsely on two firm compliance questionnaires that he had not borrowed funds from any customer. When the firm “detected” in March 2019 that he was “using funds from his own bank account to purchase securities” for the customer, PFS initiated an investigation, during which Renteria informed the firm that he had borrowed money from the customer and was buying securities for her to repay it, according to FINRA. That was in May 2019, per the AWC Letter; a few months later, in July 2019, he allegedly took a loan of about $6,000 from a second firm customer without notifying the firm or receiving its approval. As of the signing of the AWC Letter, FINRA states, he had repaid the loan from the first customer in full, but had not repaid “any portion” of the second loan. As a result of the foregoing alleged conduct, Renteria was issued a three-month suspension from associating with any FINRA member firm in any capacity. He was also ordered to pay a fine of $5,000 and restitution of $6,000.
According to a second Letter of Acceptance, Waiver and Consent (No. 2020065896801) dated April 2020, Robert Renteria in August 2019 FINRA sent Renteria a request for documents and information concerning allegations he had borrowed money from firm customers. FINRA states that he responded to this request with a signed statement “that he had borrowed $1,600 from a Firm customer and had repaid her in full, even though he knew those statements were false.” FINRA goes on to state that he had in fact borrowed $20,000 from the customer in question, but had not fully repaid her. He had only paid her $2,200, according to FINRA, which concluded that he provided false information in violation of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from association with any FINRA member in any capacity.
Robert Renteria is currently not registered as a broker. His previous registrations include PFS Investments in El Paso, Texas. He has passed three securities industry qualifying examinations and his BrokerCheck report lists no state securities licenses. (Information current as of May 8, 2020.)