Spartan Capital Securities, LLC Broker Carlos Hurtado BARRED by FINRA – New York, NY

FINRA has barred Spartan Capital Securities, LLC broker Carlos Hurtado from the securities industry for refusing to provide on-the-record testimony to FINRA in connection with its investigation into Hurtado’s possible participation in a private securities transaction.

If you have lost money with Carlos Hurtado, or Spartan Capital Securities, LLC, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

FINRA Letter of Acceptance, Waiver, and Consent (“AWC”)

Carlos Hurtado and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on June 22, 2021.

FINRA Rule 8210(a)(1) states that FINRA may require a person subject to its jurisdiction “to testify at a location specified by FINRA staff, under oath…with respect to any matter involved in {a FINRA] investigation….” FINRA Rule 8210(c) further specifies that “[n]o… person shall fail to provide…testimony…pursuant to this Rule.” A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires associated persons to observe high standards of commercial honor and just and equitable principals of trade.”

On May 25, 2021, in connection with its investigation into Hurtado’s possible participation in a private securities transaction, FINRA sent a request to Hurtado for on the-record testimony pursuant to FINRA Rule 8210. On June 14, 2021, Hurtado acknowledged, through counsel, that that he received FINRA’s request and would not appear for on-the-record testimony at any time.

By refusing to appear for on-the-record testimony as requested pursuant to FINRA Rule 8210, Hurtado violated FINRA Rules 8210 and 2010.

Carlos A. Hurtado (CRD#: 5111878)

Hurtado has 13 years of experience in the securities industry and has been registered as a broker with Spartan Capital Securities, LLC in New York, NY since April 2018.

Prior to his association with Spartan Capital Securities, LLC, Hurtado was registered with J.H. Darbie & Co., Inc. between May 2016 and April 2018, and with Fordham Financial Management, Inc. between April 2015 and May 2016. Both firms were located in New York, NY.

Hurtado first registered with FINRA in 2007 and has been associated with other brokerage firms, including: International Assets Advisory, LLC, J.P. Morgan Securities LLC, and John Thomas Financial.

John Thomas Financial was expelled from the securities industry by FINRA in October 2013.

Hurtado’s public FINRA CRD includes the following disclosure related to his employment at J.P. Morgan Securities LLC:

  • Firm Name: J.P. MORGAN SECURITIES LLC
  • Termination Type: Discharged
  • Allegations: FIRM FOUND THAT REGISTERED REP MAINTAINED INCOMPLETE CLIENT-SIGNED DOCUMENTS, ALTERED DOCUMENTS WHERE THE CLIENT DID NOT INITIAL THE CHANGES AND INCOMING CORRESPONDENCE NOT SIGNED BY A PRINCIPAL.
  • Broker Comment: RR MAINTAINS THAT ALLEGATION THAT HE ALTERED A DOCUMENT WITHOUT CUSTOMER’S INITIALS IS MISLEADING. CUSTOMER WAS PRESENT AND BACK OFFICE WAS INSTRUCTING THE RR AND CUSTOMER THROUGH THE DOCUMENTATION NEED TO TRANSFER A TRUST FROM THE CUSTOMER’S DECEASED FATHER TO THE SON’S ACCOUNT. AS PER THE BACK OFFICE, CHANGES WERE MADE, BUT CUSTOMER FAILED TO INITIAL THE CHANGE. WITH REGARD TO INCOMING CORRESPONDENCE NOT SIGNED BY A PRINCIPAL, RR WAS NOT A PRINCIPAL AND HAD NO SUPERVISORY RESPONSIBILITIES.

How to Recover Losses or Obtain a Free Consultation

If you have lost money with Carlos Hurtado, or Spartan Capital Securities, LLC, contact FINRA arbitration lawyers August Iorio and Jorge Altamirano of Iorio Altamirano LLP at august@ia-law.com,  jorge@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.

Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. We pursue FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.

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