Investigation Launched into Stockbroker Cesar Hurtado, an Oppenheimer & Co. Financial Advisor

September 22, 2019 Author: Brian Levin
Stockbroker Cesar Hurtado

Levin Law, P.A. (“Levin Law”) has filed an arbitration claim in the Financial Industry Regulatory Authorty (“FINRA”) against Oppenheimer & Co. Inc (“Oppenheimer”) alleging approximately $1.7 million in damages caused by the alleged misconduct of Oppenheimer’s agent and employee, Cesar Hurtado.  The investor in the case alleges that Oppenheimer breached its fiduciary duty to the claimant by buying and selling securities for purposes of generating commission and recommending and selling unsuitably risk securities. The violations alleged in that claim also include:

  • Failure to treat claimants in a just and equitable manner
  • Negligence, breach of contract, and breach of fiduciary duty
  • Negligent supervision

Oppenheimer will be provided the opportunity to assert defenses in the FINRA arbitration.

Types of Broker Misconduct 

Many people pursue careers in financial services because of the potential to earn substantial gains through the financial markets. This opportunity for significant gains come at a price: responsibility and accountability to the client. There are numerous types of broker misconduct regulated by the FINRA. A few examples of common broker misconduct include:

  • Churning: excessively buying and selling securities to generate commissions, regardless of the client’s investment objectives (selling the same security multiple times on the same day to earn fees)
  • Front Running: occurs when a broker buys or sells securities from their personal account before executing a client order, and then closing their position based upon the new price, to maximize gains.
  • Material Omissions: failing to inform an investor of facts material to the understanding of an investment (failing to notify a client of an expiration component to an option contract)
  • Unsuitability: recommending a financial strategy that is inappropriate for a particular investor based upon that client’s goals (recommending a high-risk stock purchase for a retired client looking for a low-risk investment)
  • Fraudulent Misrepresentation: falsifying facts about an investment, typically to gain interest in a risky investment product (lying about the pitfalls of a risky investment to dupe a casual investor)

Other types of misconduct include insider trading; misappropriation of funds; self-dealing; margin abuse; and breakpoint selling.

Have You Suffered Losses With Cesar Hurtado? 

If you have invested with Oppenheimer and have suffered monetary losses, you may have the right to recover your losses in a FINRA arbitration.  Levin Law continues to investigate whether Mr. Hurtado has engaged in other wrongdoing in other investors’ accounts.

Contact Levin Law, P.A. in for More Information   

If you invested your money with Cesar Hurtado and Oppenheimer and suffered financial losses, Levin Law may be able to help you recover your losses through FINRA arbitration.

If you have concerns about your investments and accounts with Cesar Hurtado or Oppenheimer, contact Levin Law for a free case evaluation to determine whether you can take legal action to recover your losses.  Please contact us at, or 305-539-0593.

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