Securities Arbitration Lawyer Blog
FINRA has barred former Gentem Capital broker Cesar Gabriel Hernandez from the securities industry. Mr. Hernandez was expelled from the brokerage industry for refusing FINRA’s request to appear for on-the-record testimony pursuant to FINRA Rule 8210.
Previously, on October 19, 2010, FINRA had accepted AWC No. 2009016158801, in which Mr. Hernandez consented to a three-month principal capacity suspension and a $25,000 fine for violations of NASD Rules 3011(a) and (b) and 2110 and FINRA Rule 2010.
Without admitting or denying the findings, Mr. Hernandez agreed to the entry of findings that he failed to adequately implement the firm’s Anti-Money Laundering (AML) compliance program and also failed to establish and implement an adequate customer identification program.
If you have lost money with Cesar Gabriel Hernandez or Gentem Capital, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.
FINRA Letter of Acceptance, Waiver, and Consent
Cesar Gabriel Hernandez and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on June 24, 2021, after Mr. Hernandez refused FINRA’s request to appear for on-the-record testimony pursuant to FINRA Rule 8210.
FINRA Rule 8210(a) states that, for purposes of an investigation, FINRA may require any person subject to its jurisdiction to provide information “orally, in writing, or electronically (if the requested information is, or is required to be, maintained in electronic form) and to testify at a location specified by FINRA staff, under oath or affirmation administered by a court reporter or a notary public if requested, with respect to any matter involved in the investigation, complaint, examination, or proceeding.”
A violation of FINRA Rule 8210 also is a violation of FINRA Rule 2010, which requires associated persons, in the conduct of their business, to observe high standards of commercial honor and just and equitable principles of trade.
Specifically, on May 10, 2021, in connection with an examination of Gentem Capital’s AML program, FINRA sent Mr. Hernandez a request to appear for on-the-record testimony pursuant to FINRA Rule 8210. Through his counsel’s email to FINRA on May 21, 2021, and by the AWC agreement, Mr. Hernandez acknowledged that he received FINRA’s request and indicated that he would not appear for on-the-record testimony at any time.
By refusing to appear for on-the-record testimony as requested pursuant to FINRA Rule 8210, Mr. Hernandez violated FINRA Rules 8210 and 2010.
Cesar Gabriel Hernandez (CRD#: 3249722)
Mr. Hernandez has 18 years of experience in the securities industry and was registered as a broker with Gentem Capital, primarily in Miami, FL, between June 2002 and November 2019.
On November 8, 2019, Gentem Capital filed a Form U5 terminating Mr. Hernandez’s registration, indicating that the termination was voluntary.
His FINRA CRD shows one pending customer dispute seeking $15,000 in damages.
How to Recover Losses or Obtain a Free Consultation
If you have lost money with Cesar Gabriel Hernandez, or Gentem Capital, contact FINRA arbitration lawyers August Iorio and Jorge Altamirano of Iorio Altamirano LLP at august@ia-law.com, jorge@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. We pursue FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.