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Robert Estevez Sanctioned by FINRA Last Month

Robert EstevezPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on October 14, 2016 indicate that New York-based Joseph Gunnar & Company broker Robert Estevez has been sanctioned by FINRA. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Estevez (CRD# 3161419).

Robert Estevez has spent seventeen years in the securities industry and has been registered with Joseph Gunnar & Company in New York, New York since September 2016. He was previously registered with Investors Capital in Greenwich, Connecticut (2008-2016); Eastbrook Capital Group, which has since been expelled by FINRA, in New York, New York (2001-2008), and Prime Charter in New York, New York (1998-2001). He is a registered broker with twenty-two US states and territories: Alaska, California, Connecticut, the District of Columbia, Florida, Georgia, Idaho, Indiana, Iowa, Maryland, Minnesota, Mississippi, Nebraska, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Utah, Washington, and Wyoming.

According to his BrokerCheck report, Robert Estevez has received two regulatory sanctions.

In September 2016 FINRA sanctioned Robert Estevez following allegations he recommended unsuitable short-term steepener transactions to his clients. According to FINRA’s complaint: “Steepeners are complex, structured products with returns linked to the spread between longer- and shorter-term interest rates — the so-called steepness of the yield curve. Estevez recommended these products as part of an active, short-term trading strategy. In fact, Estevez recommended that some of his customers hold the steepeners for as little as two months. As a result of the illiquid secondary market for steepeners, Estevez’s recommendations often resulted in customers buying steepeners at full price and selling them at a loss. This short-term trading strategy was unsuitable, and resulted in an aggregate of approximately $24,000 in customer losses.” He was issued a two-month suspension and a fine of $20,000.

In 2013 the State of New Hampshire sanctioned Robert Estevez following allegations he “engaged in telemarketing of New Hampshire residents in violation of FINRA Rule 3230 and New Hampshire law.” He was issued a fine of $50,000 and withdrew his licensure in the state, agreeing not to seek licensure for three years.

If you have suffered losses while investing with Robert Estevez, you may be entitled to a recovery. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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