Rudy Mejia Faces 8-Month FINRA Suspension

Rudy Mejia (CRD #: 6041154), a broker formerly registered with Estrada Hinojosa & Company (CRD#:19299), allegedly engaged in unapproved private securities transactions, according to his BrokerCheck record, accessed on December 6, 2024. Keep reading to learn more about his alleged conduct as a broker.

FINRA Suspension

On November 11, 2024, Rudy Mejia consented to the entry of findings that he allegedly participated in private securities transactions from November 2022 to July 2023, without providing prior written notice to Estrada Hinojosa & Company.

According to a Letter of Acceptance, Waiver & Consent (AWC), Rudy Mejia and a friend allegedly co-founded a pooled investment fund with an options trading strategy and a management company to serve as the fund’s general partner. Rudy Mejia allegedly purchased $100,000 of the fund’s limited partnership interests, in the form of securities. An additional seven investors allegedly purchased a total of $738,000 of the fund’s limited partnership interests.

The AWC alleged that these investors were either friends or family of the fund’s co-founders, and three were introduced to the investment by Rudy Mejia. For several of these investors, he allegedly also countersigned their subscription agreement on behalf of the fund to accept the investment. Rudy Mejia allegedly expected compensation from the fund in the form of quarterly performance fees paid by the fund to the management company.

Rudy Mejia allegedly did not provide prior written notice of his participation in these activities or his own investment in the fund to his firm and did not receive approval for them.

Further, the AWC alleged that the investment fund and its management company opened brokerage accounts at another firm, accounts which Rudy Mejia controlled and held a beneficial interest in. He allegedly executed 304 transactions in these accounts without disclosing this information to Estrada Hinojosa & Company and without notifying the executing firm of his registration with Estrada Hinojosa.

The AWC concluded that these allegations constitute violations of FINRA Rules 3280, 3210, and 2010.

FINRA Rule 3280

FINRA Rule 3280 requires brokers to provide written notice to their firm before engaging in private securities transactions.

FINRA Rule 3210

FINRA Rule 3210 prohibits brokers from opening an investment account at any other brokerage firm besides the firm where they are registered representatives without the prior written consent of their firm. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Rudy Mejia consented to the following sanctions:

• 8-month suspension from associating with FINRA members
• $10,000 fine

His suspension began on November 18, 2024, and will end on July 17, 2025. You can access the full AWC here.

Background Information

Rudy Mejia has passed the following exams:

• Securities Industry Essentials Examination – SIE
• Municipal Advisor Representative Qualification Exam – Series 50
• General Securities Representative Examination – Series 7
• Municipal Securities Representative Examination – Series 52
• Uniform Securities Agent State Law Examination – Series 63

He previously worked for Estrada Hinojosa & Company (CRD#:19299)

Kurta Law Can Help

If you worked with Rudy Mejia and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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.