Public records published by the Financial Industry Regulatory Authority (FINRA) on March 17, 2017 indicate that former Florida-based Western International Securities broker/adviser Jeffrey Vargas has been sanctioned by FINRA and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Vargas (CRD# 5485101).
Jeffrey Vargas has spent seven years in the securities industry and was most recently registered with Western International Securities in Coral Gables, Florida (2016-2017). Previous registrations include Mutual Securities in Miami, Florida; Wells Fargo Advisors in Miami, Florida; and Signator Investors in Miami, Florida. He has passed three securities industry examinations: Series 6 (Investment Company Products/Variable Contracts Representative Examination), Series 7 (General Securities Representative Examination), and Series 66 (Uniform Combined State Law Examination). He is currently not registered with any state or firm.
According to his BrokerCheck report, Jeffrey Vargas has received one FINRA sanction and was terminated from a former employer.
In January 2017 FINRA sanctioned Jeffrey Vargas following allegations he “accepted third party orders, without prior written authorization, in a customer account.” According to FINRA’s findings, he allegedly “inaccurately stated in his member firm’s systems that he spoke with client over the phone and verified the client’s identity, when he had not done so.” He was issued a 30-day suspension and a fine of $5,000.
In 2015 Jeffrey Vargas was terminated from his position at Wells Fargo Advisors after “The Firm conducted an internal review based on information that he made inaccurate statements on the Firm’s internal systems indicating that he had verbally confirmed customer’s instruction with the customer when he did not do so.”
If you have complaints regarding Jeffrey Vargas, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.