![FINRA Imposes Sanctions on Jorge Hernandez Over Rule Violations](https://reviewvideosagency.com/wp-content/uploads/2023/12/whatsapp-image-2023-12-23-at-122425-1-658688bee4261.webp)
FINRA Imposes Sanctions on Jorge Hernandez Over Rule Violations
Background of Jorge Hernandez
![Details of Jorge](https://reviewvideosagency.com/wp-content/uploads/2023/12/dffdfeafefeff-65868273d6b55-1024x323.webp)
Hernandez worked in the securities industry beginning in April 2007. He joined Gradient Securities in December 2020 as a representative for investment company shares and variable contracts. His association with Gradient ended in August 2023 due to voluntary termination. Currently, Hernandez doesn’t have any association or registration with FINRA member firms, but he’s still under FINRA’s jurisdiction according to Article V, Section 4 of FINRA’s By-Laws.
Firm Name | CRD Number | Employment Period | Location |
---|---|---|---|
GRADIENT SECURITIES, LLC | #127701 | Dec 15, 2020, to Aug 23, 2023 | Glendora, CA |
WOODBURY FINANCIAL SERVICES, INC. | #421 | Dec 21, 2016, to Dec 17, 2020 | Upland, CA |
MADISON AVENUE SECURITIES, LLC | #23224 | Dec 07, 2015, to Dec 22, 2016 | Covina, CA |
PARKLAND SECURITIES, LLC | #115368 | Mar 13, 2013, to Nov 16, 2015 | Chino, CA |
TRANSAMERICA FINANCIAL ADVISORS, INC | #16164 | Jan 06, 2012, to Dec 07, 2012 | Corona, CA |
WORLD GROUP SECURITIES, INC. | #114473 | Nov 22, 2007, to Jan 06, 2012 | Chino Hills, CA |
Allegations
![Penalties on Jorge due to violation of rules](https://reviewvideosagency.com/wp-content/uploads/2023/12/image-2023-12-23t122129069-658682f8c158a.webp)
Hernandez violated FINRA Rules 8210 and 2010 by failing to provide information and
documents requested pursuant to Rule 8210.
This case originated from a customer complaint, and it involves violations of rules. According to Rule 8210(a)(1) and (2), individuals associated with a member or under FINRA’s jurisdiction must provide information in investigations, complaints, examinations, or proceedings. Rule 8210(c) prohibits the failure to provide such information. Additionally, Rule 2010 requires associated persons to uphold high standards of commercial honor and just and equitable principles of trade.
On August 2, 2023, FINRA staff, in line with Rule 8210, requested information and documents from Hernandez, setting a deadline of August 16, 2023. Hernandez’s counsel, on August 14, 2023, acknowledged the letter and obtained an extension until August 30, 2023. However, on August 25, 2023, Hernandez’s counsel notified FINRA that Hernandez would not comply with the requests. This refusal, confirmed on September 8, 2023, constitutes a violation of those rules.
As part of the agreement, Hernandez consents to sanctions, including a bar from associating with any FINRA member in any capacity. It’s noted that being barred or suspended leads to statutory disqualification, prohibiting association with any member, even in clerical or ministerial roles, in accordance with Rules 8310 and 8311.
The effective date of these sanctions will be specified by FINRA, with a bar or expulsion taking effect upon approval or acceptance of this agreement.
Claims from the Report
![Information from the report](https://reviewvideosagency.com/wp-content/uploads/2023/12/image-2023-12-23t124516153-6586887f19cc7.webp)
Without acknowledging or denying the conclusions, Hernandez agreed to the penalty and the acknowledgment of findings stating that he declined to furnish information and documents as requested by the American Regulatory Authority. This was in relation to their investigation into accusations that he participated in undisclosed Outside Business Activities (OBAs).
Key Points
- Employment: Jorge Hernandez worked in the securities industry from April 2007 to August 2023, with his last position at Gradient Securities.
- FINRA Jurisdiction: Though not currently with any FINRA member firms, Hernandez is still under their jurisdiction.
- Allegations: Hernandez violated Rules 8210 and 2010 by failing to provide requested information and documents.
- Timeline: On August 2, 2023, the regulatory authority requested information with a deadline of August 16, extended to August 30. Hernandez’s refusal on August 25 led to confirmed violations on September 8, 2023.
- Sanctions: Hernandez agreed to sanctions, including a bar from associating with any member. The effective date will be determined by FINRA upon agreement approval. The violations relate to a customer complaint and accusations of undisclosed Outside Business Activities.
Conclusion
In conclusion, Jorge Hernandez‘s career in the securities industry spanning from April 2007 to August 2023 took a turn for the worse as he faced allegations of violating FINRA Rules 8210 and 2010. His failure to provide information and documents requested by the authority, stemming from a customer complaint and accusations of undisclosed Outside Business Activities, led to sanctions, including a bar from associating with any member.
Despite no current affiliation with members of the firm, Hernandez remains under their jurisdiction. The timeline of events, from the initial request on August 2, 2023, to the confirmed violations on September 8, 2023, outlines the sequence of events that ultimately resulted in the imposition of penalties. The effective date of the sanctions is pending the authority’s determination upon approval of the agreement.