Carlos Seda was a Puerto Rico based securities broker. He worked in the securities industry for fourteen years. During his career, he was registered with four different securities firms.
His registrations included; Santander Securities (2002-2007), OFS Securities (2007-2013), Oriental Financial Services Corp. (2013-2014), and Kovack Securities (2014-2017). He is no longer working as a registered securities broker in any fashion.
Carlos Seda’s publicly available FINRA BrokerCheck report shows that he has received multiple customer complaints over the course of his career.
In December 2014, a customer alleged breach of fiduciary duty, fraud, breach of contract, negligence, negligent misrepresentation and omission, unsuitability, and over-concentration. This case was settled for $35,000 in damages.
In July 2015, customers alleged that Carlos Seda encouraged them to liquidate their holdings to invest in various Puerto Rico bonds that represented unsuitable liquidity and capital risk. This case is currently pending. The customers are seeking $1 million in damages.
In February 2016, customers alleged that Seda over-concentrated their portfolio in illiquid closed-end bond funds. The customers alleged that this was highly unsuitable. This case was settled for $85,000 in damages.
In January 2017, customers alleged that Carlos Seda recommended high-risk and unsuitable investment strategies. This case was settled for $170,000 in damages.
In October 2018, customers alleged over-concentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, and breach of the duty of good faith and fair dealing. This case is currently pending. The customers are seeking $99,000 in damages.
In November 2018, a customer alleged misrepresentation, omissions, unsuitable recommendations, over-concentration, breach of contract, negligence, and fraud. This case is currently pending. The customers are seeking $75,000 in damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Carlos Seda, please contact Oakes & Fosher for a free and private consultation.