Hector Flores Suspended by FINRA for Allegedly Failing to Respond Requests for Information

Hector Flores (CRD #: 6637802), a broker formerly registered with MML Investors Services, was recently suspended for allegedly failing to respond to FINRA requests for information, according to his BrokerCheck Record accessed on March 2, 2022. His alleged conduct is a violation of FINRA Rule 8210.

FINRA Rule 8210 requires members to provide information under oath, if requested, regarding any matter that pertains to an investigation, complaint, examination, or proceeding. A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.”

FINRA Sanctions

Hector Flores was suspended on March 7, 2022. If he fails to request termination of the suspension within three months of the date of the Notice of Suspension, he will automatically be barred on May 16, 2022. 

Conversion Allegations

On November 29, 2021, Hector Flores was involved in an investor dispute alleging fraud. According to the allegations, he instructed his client to invest in mutual funds and life insurance. The client allegedly later learned that the mutual fund account didn’t exist, the life insurance policies had lapsed for non-payment, and Hector Flores had kept the money. The investor is seeking $750,000一the case is still pending.

Conversion is one of the most blatant forms of stockbroker fraud, and it involves the misappropriation of client funds. 

FINRA Rule 2150 prohibits brokers and brokerage firms from the conversion of client funds for personal use. Hector Flores also allegedly violated FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade” in the conduct of their business.

If you suspect your stockbroker is misappropriating your money, reach out to Kurta Law to determine what options you have.

Employment Resignation Details

On December 4, 2020, Hector Flores was permitted to resign from his position at MML Investors Services after allegedly participating in undisclosed outside business activities. 

By failing to disclose his outside business activities to his firm, Hector Flores allegedly violated FINRA Rules 3270. FINRA Rule 3270 requires that brokers provide written notice to their firms regarding their outside business activities. He has no business listed in the Outside Business Activity of his detailed BrokerCheck report.

If Hector Flores persuaded you to work with any of his outside businesses, contact Kurta Law today for a free case evaluation: (877) 600-0098. 

Criminal Allegations

Hector Flores has four criminal charges alleging theft.

Background Information

Hector Flores has passed the following exams:

• SIE – Securities Industry Essentials Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Besides MML Investors Services, he has also worked with NYLIFE Securities (CRD#:5167).

Kurta Law Can Help 

If you have been victimized by Hector Flores as a broker, don’t hesitate to get in touch with us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.