Robert Estevez, a registered investment adviser with Joseph Gunnar in New York, New York, recently entered into a Letter of Acceptance, Waiver and Consent with the Financial Industry Regulatory Authority (FINRA). The AWC alleged that Estevez recommended unsuitable steepener transactions in customer accounts. From May 2011 through September 2012, Estevez recommended the products, which are complex, structured products with returns linked to the spread between longer and shorter-term interest rates. They offer periodic coupons that are fixed for a pre-specified period. These products tend to be very illiquid, and Estevez recommended 25 short-term steepener transactions in the accounts of 19 customers, which resulted in $24,000 of customer losses. For this, he was fined $20,000 and suspended from the industry for two months.
Estevez was registered with Prime Charter Ltd in New York, New York from December 1998 until June 2001, Eastbrook Capital Group in New York, New York from June 2001 until December 2008 and Investors Capital Corp in Greenwich, Connecticut from December 2008 until September 2016. He is currently registered with Joseph Gunnar in New York and has been since September 2016. He has five customer disputes against him, one of which is currently pending. Please call us today for a free consultation about recovering your investment losses with Robert Estevez and Joseph Gunnar. We take cases on a contingency fee basis only.
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.