GUAYAMA, PUERTO RICO

Have you invested with Jose Candelario Padilla from Guayama, Puerto Rico? The investment fraud and securities arbitration law firm of Israels & Neuman is reviewing claims made by FINRA, against Jose Candelario Padilla. He has been affiliated Nationwide Planning Associates since September 2016.

FINRA’s Disciplinary Database reveals that Candelario was the subject of an investigation regarding non-traditional ETFs (exchange traded funds). In particular, it was alleged that Candelario used inverse and leveraged ETFs in his customers accounts without understanding the risks and nature of these products. To settle these allegations, Candelario Padilla agreed to a three-month suspension, a fine of $2,500, and restitution of $26,422 to affected customers.

FINRA has long warned about the use of inverse and leveraged ETFs. In particular, these products reset every trading period, meaning that they typically should not be held longer than a day. A recommendation to invest in these ETFS without understanding how these products work can subject a broker to discipline.

Our law firm represents investors throughout the country, including investors in Puerto Rico. We also have previously represented investors against numerous firms in the past.

View Candelario, BrokerCheck 3.13.23

View Candelario, FINRA AWC

If you lost money with Jose Candelario Padilla or Nationwide Planning Associates, please Contact Us at 206-795-5798 for a free evaluation of your case.