WARNING! Impending Investigation: FRANCISCO JAVIER SUMAVIELLE and MUREX CAPITAL
Francisco Javier Sumavielle and Murex Capital
Have you lost money with financial advisor Francisco Sumavielle of New York, New York? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Francisco Javier Sumavielle. FINRA suspended Sumavielle for seven months and fined him $12,500 for borrowing $130,000 from customers of his former brokerage firm, Murex Capital. Murex Capital’s internal policies provided that an advisor like Sumavielle must get prior approval before borrowing money from clients.
Francisco Sumavielle was a financial advisor and registered representative of Murex Capital, Inc. from September 2012 to October 2014. He worked at a branch office in New York, New York. Sumavielle also was the subject of a $34,000 tax lien.
Brokerage firms like Murex Capital have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James, ProEquities, Securities AmFranciscoa, National Securities Corp., and many others.
Click to view: Sumavielle FINRA AWC
Click to view: Sumavielle BrokerCheck 5.25.16
If you lost money with Francisco Sumavielle or Murex Capital, please Contact Us at 720-599-3505 for a free evaluation of your case.