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Mariva Capital Markets Sanctioned Following Allegations of “High Risk Activity”

Mariva Capital Markets

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 16, 2017 indicate that Florida-based brokerage firm Mariva Capital Markets was recently sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mariva Capital Markets (CRD# 156171).

Established in Florida in 2010, Mariva Capital Markets is headquartered in Miami, Florida and registered with nine US states and territories: California, Connecticut, Florida, Illinois, Massachusetts, Minnesota, New Jersey, New York, and Texas. Angelique Figueroa is Chief Compliance Officer; Guillermo Parodi is Chief Executive Officer; Steven Singer is Financial and Operations Principal. The firm is registered with FINRA and the Securities and Exchange Commission.

According to the firm’s BrokerCheck report, Mariva Capital Markets was recently sanctioned by FINRA.

In May 2017 FINRA sanctioned the firm following allegations it “failed to tailor its anti-money laundering (AML) compliance procedures (AMLCP) to a customer that represented a significant portion of the firm’s revenue and engaged in high risk activity. A letter of Acceptance, Waiver and Consent (No. 2015043415301) signed by the firm and submitted to FINRA states further: “The customer was a bank affiliate of the firm, and also a foreign financial institution (“FFI”). During the relevant time period, the affiliate engaged primarily in trading of Argentinian debt in an amount in excess of $ 1 billion dollars. The firm failed to adequately identify and investigate red flags of potentially suspicious activity triggered by the affiliate’s trading. In addition, MCM relied primarily on verbal representations of the affiliate regarding the nature and purpose of the account and failed to adequately assess the money laundering risks posed by the account… failed to perform periodic reviews of account activity sufficient to determine whether the affiliate’s verbal representations about the account trading had been accurate… and failed to conduct enhanced due diligence.” The firm was censured and issued a fine of $100,000.

If you or someone you know has lost money investing with Mariva Capital Markets, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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