Ramon Esparza of Edinburg Texas a stockbroker employed by Mutual of Omaha Investor Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA personnel during the period in which he was investigated for engaging in outside business activities that had not been disclosed to Mutual of Omaha Investor Services. Letter of Acceptance Waiver and Consent No. 2019063532901 (Dec. 20, 2019).

According to the AWC, an investigation was launched by FINRA after Esparza was terminated by Mutual of Omaha Investor Services Inc. The securities broker dealer reported to FINRA that Esparza was terminated on August 2, 2019 based upon allegations that he engaged in outside business activities which pertained to Bitcoin transactions.

The AWC stated that on September 20, 2019, a request had been made by FINRA for Esparza to provide documentation and information to the regulator in regard to his allegedly undisclosed outside Bitcoin transactions. Some of the requested documents and information were furnished by Esparza on November 1, 2019; however, the stockbroker failed to address all of FINRA’s needs. Apparently, a second request for Esparza’s information and documentation had been made by FINRA on November 12, 2019. Esparza neglected to respond to the regulator by the deadline.

The AWC stated that on December 2, 2019, another request had been made by FINRA which referenced Esparza’s failure to comply with its previous requests and warned him of future non-compliance possibly resulting in sanctions. The regulator received a call from Esparza on December 9, 2019 at which point Esparza confirmed that he would not provide additional documentation or information relating to the investigation into the purported outside business activities. Esparza’s conduct was violative of FINRA Rules 2010 and 8210.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to:  [email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation.

 (877) SEC-ATTY

1700 Market Street, Suite 1005
Philadelphia, PA 19103
Direct: (215) 413-8223
Toll Free: (877) 732-2889

1260 South Soto Street, Suite 7
Los Angeles, California 90023
Direct: (213) 255-3475
Toll Free: (877) 732-2889

2750 NE 185th Street, Suite 302
Aventura, Florida 33180-2877
Direct: (786) 490-2413
Toll Free: (877) 732-2889

See Important Disclaimer

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website