Suing Oriental Financial Securities Corp and Popular Securities for Puerto Rico Fund Sales
Stoltmann Law Offices is investigating two Puerto Rico based firms, Oriental Financial Services Corp and Popular Securities, Inc., for allegedly making unfair markups on trades and for violating trade reporting requirements. The Financial Industry Regulatory Authority (FINRA) fined the firms a total of $370,000 for their mismanagement of Puerto Rico funds. FINRA found that between July 1, 2011 and June 30, 2013, both firms solicited concentrated purchases of Puerto Rico securities designed to provide Puerto Ricans with a triple tax benefit. After Puerto Rico’s general obligation bonds were downgraded, neither firm maintained or enforced effective procedures instructing supervisors to review the security concentrations. If you invested money in Puerto Rico based firms, Oriental Financial Services Corp or Popular Securities, Inc. we may be able to help you recover your investment losses. We are securities attorneys based in Chicago who specialize in recovering investment losses. 312-332-4200.
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