According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Robert B. Silva, a former registered representative with Arete Wealth Management, allegedly engaged in outside business activity while registered there. Silva as the owner and sole officer and director of Premier Standard Equities Inc. Between January and February 2015, Silva, acting through Premier, demanded payment for forensic analysis he conducted, prior to joining Arete, of an individual’s investment portfolio held at another FINRA member and pension plan assets, with the expectation of receiving compensation in the amount of $10,000. For this he was suspended for 20 business days and fined $5,000.
Silva was registered with First Allied Securities in Pasadena, California from January 2007 until March 2009, Western International Securities in Pasadena from March 2009 until August 2012, GBS Financial Corp in Pasadena from July 2012 until December 2013, Arete Wealth Management in Chicago, Illinois from December 2013 until March 2015, MS Howells & Co. in Scottsdale, Arizona from April 2015 until April 2015 and Newport Coast Securities in New York, New York from October 2015 until November 2015. He has one customer dispute against him and is not licensed within the industry. Please call our Chicago-based law offices today to speak to an attorney about your options of recovering financial losses.
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