Laurence Torres (Laurence Michael Torres, Laurence M. Torres, Larry Torres, Michael Torres, ) has consented to a sanction from FINRA (the Financial Industry Regulatory Authority). FINRA is a non-governmental regulator of securities firms that focuses on investor protection and market integrity through effective and efficient regulation of the securities industry. The attorneys of Fishman Haygood Investment Fraud Lawyers are currently investigating possible claims against stockbroker Laurence Torres.
Laurence Torres was previously associated with Alexander Capital, Brookstone Securities, J.P. Turner & Company, and VFinance Investments.
FINRA alleges that Laurence Torres engaged in the following misconduct: failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance..
Torres was suspended from practicing as a broker by FINRA in March 2017.
In September 2017 Laurence Torres was barred by the SEC indefinitely from practicing as a broker. Laurence Torres worked for First Standard Financial Capital in Staten Island, New York from 2014 to 2016.
According to the SEC, “Torres acted with willful and reckless disregard for these customers’ interests.”
The Securities and Exchange Commission (SEC) determined in their ruling that Torres had engaged in excessive trading in at least eight customer accounts. This illegal practice is also referred to as “churning.” The SEC also found that Torres had misrepresented the high-cost pattern of these trades.
Furthermore, while the trades were non-discretionary, Torres primarily conducted business primarily by phone. Customers were not notified or asked for approval before such trades were made.
He also engaged in trades without their permission
Laurence Torres has been the subject of at least 6 customer disputes.
If you invested money through Laurence Torres, we would like to talk to you. Fishman Haygood Investment Fraud Lawyers are experienced securities litigators. We have helped hundreds of clients recover their losses that were due to broker fraud or negligence. Contact us today to discuss your options and receive a free consultation.
Fishman Investment Fraud Lawyers represents investors who have suffered investment losses in claims against their brokers or financial advisors. Our experienced attorneys have brought securities fraud cases in state and federal courts across the nation, as well as in FINRA arbitration. We work to help investors recoup their losses.
Of course, all cases are different. For that reason, we analyze each client’s matter individually and provide our personalized evaluation only after considering all of the facts and circumstances of all possible claims. If you or someone you know is the victim of securities fraud, please contact a Fishman Investment Fraud lawyer today.