JUAN ALBERTO COLON PEREA is currently employed as a Broker and/or Investment Adviser at POPULAR SECURITIES, LLC located at 209 PONCE DE LEON AVENUE, PLAZA LEVEL, SAN JUAN, PR, 00918.
JUAN ALBERTO COLON PEREA has worked at POPULAR SECURITIES, LLC since December 08, 2007
Disclosure History
JUAN ALBERTO COLON PEREA has 10 Disclosure Event(s).
Date: March 14, 2018 Category: Customer Dispute Allegations: Claimant alleged that Financial Consultant investment recommendations to purchase and to hold P.R. securities were unsuitable in light of the clients' risk tolerance. Claimants also alleged that recommendations made by the Financial Consultant were particularly egregious in light of Puerto Rico's well known deteriorating financial condition. Damage Amount Requested: $400,000.00 Broker Comment: The Financial Consultant denies these allegations and intends to defend them vigorously.
Date: May 25, 2017 Category: Customer Dispute Allegations: Claimants allege that Financial Consultant investment recommendations to purchase and to hold P.R. government bonds, and P.R. Aqueduct and Sewer bonds resulted in an over-concentrated and high-risk portfolio, which were unsuitable positions in light of the clients' risk tolerance. Claimants also allege that recommendations made by the Financial Consultant were particularly egregious in light of Puerto Rico's well known deteriorating financial condition. Damage Amount Requested: $1,000,000.00 Broker Comment: THE FINANCIAL CONSULTANT DENIES THE ALLEGATIONS AND INTENDS TO DEFEND THEM VIGOROUSLY.
Date: July 13, 2016 Category: Customer Dispute Allegations: Claimants allege that Financial Consultant's investment recommendation to purchase and to hold P.R. municipal bonds and Popular Inc. preferred stock resulted in an over-concentrated and high risk portfolio, which was unsuitable in light of the clients' stated risk tolerance. Claimants also allege that Financial Consultant made misleading representations regarding the products' risks. Damage Amount Requested: $1,442,864.99 Settlement Amount: $725,000.00 Broker Comment: THE FINANCIAL CONSULTANT DENIES THE ALLEGATIONS AND INTENDS TO DEFEND THEM VIGOROUSLY.
Date: February 14, 2011 Category: Customer Dispute Allegations: CUSTOMERS ALLEGE THAT RESPONDENTS MADE UNSUITABLE RECOMMENDATIONS, MISREPRESENTATIONS AND EXECUTED UNSUITABLE TRANSACTIONS THAT RESULTED IN OVERCONCENTRATION OF THE CLAIMANTS PORTFOLIO. Damage Amount Requested: $1,125,000.00 Settlement Amount: $41,500.00 Broker Comment: CITIGROUP SETTLED THIS MATTER FOR THE AMOUNT OF $15,000. POPULAR SECURITIES, LLC SETTLED THIS MATTER FOR THE AMOUNT OF $41,500.00.
Date: December 15, 2010 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT IN 2002, SHE INFORMED HER BROKER NOT TO PLACE HER TOTAL INVESTMENT AT RISK. HOWEVER, WITHOUT HER AUTHORIZATION, THE BROKER INVESTED THE FUNDS IN RISKY INVESTMENTS WHICH CAUSED THE CUSTOMER LOSSES. Damage Amount Requested: $119,000.00
Date: March 04, 2010 Category: Customer Dispute Allegations: ON 2003, CUSTOMER (CLAIMANTS) ESTABLISHED AN INVESTMENT ADVISORY ACCOUNT AND A BROKERAGE ACCOUNT WITH THE CONSULTANT. ACCOUNTS WERE FIRST SERVED AT SMITH BARNEY (2003-2007), THEN, TRANSFERRED TO POPULAR SECURITIES (2008-2010). CLIENT NOW CLAIMS THAT BOTH ACCOUNTS, SINCE INCEPTION TO PRESENT, WERE SUBJECT TO UNSUITABLE RECOMMENDATIONS CONSISTING ON THE OVER-CONCENTRATION OF SECURITIES ON THE PUERTO RICO SECTOR. Damage Amount Requested: $1,600,000.00 Settlement Amount: $6,499.00 Broker Comment: FINANCIAL CONSULTANT STRONGLY DENIES ALL ALLEGATIONS.
Date: November 09, 2009 Category: Customer Dispute Allegations: ON NOVEMBER 9, 2009, POPULAR SECURITIES RECEIVED THE ABOVE ARBITRATION PROCEEDING PURSUANT TO SECTION 12000 OF THE FINRA UNIFORM CODE OF ARBITRATION, WHERE JUAN A. COLÓN-PEREA (FORMERLY A FINANCIAL CONSULTANT FOR SMITH BARNEY AND CURRENTLY A FINANCIAL CONSULTANT FOR POPULAR SECURITIES) HAVE BEEN NAMED AS RESPONDENT. STATEMENT OF CLAIM ALLEGES THAT THE CONSULTANT MADE UNSUITABLE RECOMMENDATIONS FOR INVESTMENT AS A FINANCIAL CONSULTANT FOR SMITH BARNEY DURING THE YEARS 2003, 2004, 2005 AND FOR POPULAR SECURITIES ON JANUARY 25, 2008, CAUSING AN OVER CONCENTRATION ON PUERTO RICO SECURITIES ON THE CUSTOMER'S ACCOUNT. Damage Amount Requested: $1,240,000.00 Settlement Amount: $8,500.00 09-06090
Date: August 14, 2009 Category: Customer Dispute Allegations: AFTER PURCHASING AND HOLDING AN INVESTMENT IN THE POPULAR INC. PREFERRED STOCK (PREFERRED STOCK) FOR MORE THAN A YEAR (MAY 2008-AUGUST 2009), THE CLIENT CLAIMS THAT THE TRANSACTION TO SELL A US AGENCY BOND AND USE THE PROCEEDS TO PURCHASE THIS PREFERRED STOCK WAS UNAUTHORIZED. FIRM'S PRELIMINARY REVIEW, INDICATES THAT THE TRANSACTION WAS DISCUSSED PRIOR TO THE EXECUTION. Damage Amount Requested: $199,786.00
Date: March 12, 2009 Category: Customer Dispute Allegations: CLIENT CLAIMS THAT SHE TRIED UNSUCCESSFULLY TO CONTRACT HER REPRESENTATIVE FOR SEVERAL MONTH. SHE ALLEGES THAT EVERY TIME SHE CALLED, HIS ASSISTANT INFORMED HER THAT HE WOULD RETURNED CALLS, WHICH HE NEVER DID. AS A RESULT OF THESE LACK OF COMMUNICATION SHE WAS UNABLE TO TRADE HER INVESTMENTS AND MITIGATED HER POSSIBLE LOSSES. CLIENT ALSO CLAIMS THAT ABOUT A YEAR AND A HALF AGO, HER REPRESENTATIVE ASSURED HER THAT HER INVESTMENT WAS A VERY SAFE AND SECURED ONE. CLIENT ALLEGES IT WAS NOT UNTIL AUGUST 2008 THAT SHE WAS INFORMED THAT HER INVESTMENT WERE HIGH RISK INVESTMENTS. Damage Amount Requested: $29,368.91
Date: June 02, 1997 Category: Customer Dispute Allegations: MISREPRESENTATION (EQUIT): DAMAGES $25,000 Damage Amount Requested: $25,000.00 Settlement Amount: $20,000.00 Broker Comment: SETTLED FOR $20,000 AS A RESULT OF A VERBALCUSTOMER COMPLAINT. VERBAL COMPLAINTS ARE NOT REPORTABLE.PLEASE ARCHIVE. MATTER NO LONGER REPORTABLE22H(2); VERBAL CUSTOMER COMPLAINTS ARE NOT REPORTABLE. SEQUENTDRP #230315
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