FINRA has brought a regulatory action against Dennis Herrera of Aegis Capital in Miami, Florida, alleging that he violated Regulation Best Interest (Reg BI) by excessively trading or churning two customers’ accounts.  If you lost money investing with Herrera, you may have legal options to recover your losses. The securities arbitration law firm of Israels & Neuman is reviewing a FINRA action involving Dennis Herrera, a former representative of Aegis Capital.

As evidence of the excessive trading, FINRA alleged that the two accounts had cost-to-equity ratios of 25% and 28% respectively.   This means that the accounts had to earn profits of 25% and 28% just to break even from the costs of trading, making it very difficult, if not impossible, for the investor to realize any gains.

Background on Dennis Herrera

Dennis Herrera had been a representative of Aegis Capital between March 2016 and October 2023.  He worked at a Miami, Florida and a New York City office.  He also operated companies called Nuday Capital and Nuday Assets.  Herrera was also the subject of a customer complaint made in 2020, which settled for $56,817.

What If I Have Investment Losses?

Florida investors have the right to pursue claims through FINRA arbitration, a legal forum designed to help recover funds lost due to broker misconduct or unsuitable investment recommendations.

Dennis Herrera may be individually liable for misrepresentation, unsuitable advice, or breach of fiduciary duty. However, Aegis Capital may also bear responsibility if they failed to properly supervise Herrera or ignored warning signs.

We Represent Investors in Miami and Across Florida

At Israels & Neuman, we have helped thousands of investors nationwide recover money lost to financial advisor misconduct and represent investors throughout Florida. Our attorneys have extensive experience handling claims involving Aegis Capital.

Find Herrera’s FINRA AWC here

Find Herrera’s BrokerCheck report here

Free Case Review — Speak to a Securities Fraud Attorney Today

If you invested with Dennis Herrera, contact us for a free case evaluation. Our attorneys are here to help you understand your rights and determine whether a claim through FINRA arbitration is right for you.

(720) 599-3505 or (206) 795-5798