Securities Arbitration Lawyer Blog
The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Juan Ceja from the securities industry. Mr. Ceja was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation. FINRA launched the investigation after PFS Investments, Inc. discharged Mr. Ceja in February 2021 and alleged that he “submitted term life insurance applications with questionable and/or invalid information.” Mr. Ceja was associated with PFS Investments, Inc. in Medford, Oregon, from December 2000 until February 221.
Customers of Mr. Ceja or PFS Investments, Inc., can contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation.
Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms, such as PFS Investments Inc.
FINRA Letter of Acceptance, Waiver, and Consent No. 2021070491301
Juan M. Ceja and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on July 1, 2021, after Mr. Ceja refused to provide documents and information connected with FINRA’s investigation. The investigation originated after PFS Investments, Inc. discharged Mr. Ceja on February 4, 2021, and alleged that he falsified the electronic signatures of the firm’s insurance affiliate clients between April 2020 and September 2020 in order to renew 104 term life insurance policies that had lapsed. Mr. Ceja received over $30,000 in advanced commissions.
On May 20, 2021, in connection with FINRA’s investigation, FINRA sent a request to Mr. Ceja for the production of documents and information pursuant to FINRA Rule 8210. On June 10, 2021, Mr. Ceja stated in a telephone conversation with FINRA that he would not produce information and documents.
By refusing to cooperate with FINRA’s investigation, Mr. Ceja violated FINRA Rules 8210 and 2010.
Financial Advisor Juan Manuel Ceja (CRD No. 2732374)
Juan Manuel Ceja had 20 years of experience in the securities industry, all with PFS Investments, Inc. in Medford, Oregon. Mr. Ceja was also associated with Primerica Financial Services, a co-located affiliate of PFS Investments, Inc., since 1994.
According to his BrokerCheck report, Mr. Ceja was also the subject of a $10,859 IRS Tax lien in 2011.
PFS Investments, Inc. – Supervisory Duties
Brokerage firms like PFS Investments, Inc. must properly supervise financial advisors and customer accounts. Brokerage firms must also establish and maintain a reasonably designed system to oversee account activity to ensure compliance with securities laws and industry regulations. When a brokerage firm fails to sufficiently supervise its financial advisors or the investment account activity, it may be liable for investment losses sustained by customers.
How to Recover Financial Losses or Obtain a Free Consultation
If you have lost money with financial advisor Juan Ceja or PFS Investments, Inc., contact New York securities arbitration attorney August Iorio of Iorio Altamirano LLP. August Iorio can be reached at august@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your legal rights.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. Iorio Altamirano LLP pursues FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by stockbrokers and brokerage firms.
Iorio Altamirano LLP is a bilingual law firm, fluent in both English and Spanish.