Articles Tagged with Exchange-traded notes (ETNs)

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A recently filed FINRA customer complaint against Insigneo Securities alleges account mismanagement and short trading by broker Felipe Henao. The claim appears to arise at least in part from a February 28, 2020 short trade placed by Henao for 20,000 shares in the Barclays Bk VIX Short-Term Futures ETN in his customer’s Zaphiro Investments’ account. Subsequently, on March 17, 2020, Henao placed a trade to cover the short.

The customer then raised concerns in an email to Henao about the management and the overall performance of the brokerage account on or around August 19, 2020. The customer indicated that he was underwhelmed by the fluctuations and volatility in the Zaphiro account, which suffered substantial account value depreciation. The customer also complained about Henao’s lack of communication. Insigneo Securities reviewed and responded to the customer’s complaint on September 2, 2020. The FINRA complaint was filed on September 8, 2020.

If you have lost money with Felipe Henao or Insigneo Securities, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

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