Finra bars former UBS rep for failure to provide information
Regulator was investigating Alex Herrera's real estate deals with clients
The Financial Industry Regulatory Authority Inc. has barred former UBS representative Alex Herrera for failing to provide information it requested in an investigation of his conduct.
Mr. Herrera, who resigned from UBS in April after six years with the firm, had been under review at the firm “after advising management he had engaged in financial and real estate relationships with longstanding clients without prior approval,” according to his BrokerCheck record.
The record also shows that in May, an attorney for one of Mr. Herrera’s clients alleged that the adviser “stole her money to buy a vacation home.”
Mr. Herrera is not currently employed in the securities industry. He began his career in 1999 at MML Investors and worked at three firms before joining UBS in 2012.
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