Client's allege unsuitability, overconcentration, failure to supervise, scienter, aiding and abetting, fraudulent concealment, violations of securities laws and rules, fraud, recklessness, negligence, breach of fiduciary duties, and violations of PR contract law (Puerto Rico bonds and closed-end funds). Includes request for rescission, interest, fees, costs, and disgorgement of commission and fees.

$100,000.00

$50,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 07/14/21 the Firm has settled this case for $50,000. The representative was not asked to contribute to the settlement.

Client alleges over-concentration, unsuitability, breach of fiduciary duty, breach of contract, contractual negligence, fraud, constructive fraud, failure to supervise and control, and violations of securities laws and rules (Puerto Rico bonds). Includes request for punitive damages, interest, costs and fees.

$5,000,000.00

$950,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 6/16/21, the Firm settled this matter for $950,000. The representative was not asked to contribute to the settlement. The client wanted investment grade tax free PR Government bonds which produced income, and that is what I presented to the client, and that is what the client approved us to buy. Client was advised to diversify with US tax-free bonds, but due to lower rates, she requested PR bonds. I deny all the stated claims by the client or the client's counsel.

Client alleges unsuitability, over-concentration, breach of fiduciary duty, negligence, negligent supervision, failure to supervise, fraud, breach of contract, and violations of securities laws and rules (Puerto Rico bonds and closed-end funds). Includes request for rescission, punitive damages, interest, costs and fees.

$70,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 11/10/20, the Firm settled this matter for $70,000. The representative was not asked to contribute to the settlement.

Client alleges Overconcentration, unsuitability, breach of fiduciary duty, breach of contract, contractual negligence, fraud, constructive fraud, failure to supervise and control, and violations of securities laws and rules (Puerto Rico bond funds and Closed End funds). Includes request for punitive damages, interest, costs and fees.

$225,000.00

$50,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 4/14/21, the the Firm settled this matter for $50,000. The representative was not asked to contribute to the settlement.

Client's allege unsuitability, over-concentration, violations of securities laws and rules, fraud, breach of fiduciary duty, breach of good faith and fair dealings, negligence, failure to supervise, breach of contract, and gross and wanton negligence (Puerto Rico bonds). Includes request for punitive damages, interest, costs, fees, disgorgement of commission/fees and rescission.

$140,000.00

$30,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 1/22/21, the Firm settled this matter for $30,000. The representative was not asked to contribute to the settlement.

Client alleges that the representative made unsuitable recommendations based on this specific circumstances resulting in significant loss.

$326,799.00

$50,000.00

Client's allege over-concentration, unsuitability, breach of fiduciary duty, breach of contract, contractual negligence, fraud, constructive fraud, failure to supervise and control, and violations of securities laws and rules (Puerto Rico bond and bond funds). Includes request for punitive damages, interest, costs and fees.

$200,000.00

$60,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 12/8/20, the Firm has settled this case for $60,000. The representative was not asked to contribute to the settlement.

Client's allege over-concentration, scalping, violations of securities laws and FINRA rules, negligence, breach of suitability duty, breach of duty to engage in fair dealings, breach of fiduciary duty, breach of contract and failure to supervise, negligent misrepresentation (Puerto Rico municipal bonds and closed-end funds). Includes request for interest, costs and rescission.

$1,500,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 03/23/21, the Firm has settled this case for $1,500,000. The representative was not asked to contribute to the settlement.

Client's allege unsuitability, over-concentration, failure to supervise, aiding and abetting, fraudulent concealment, violations of securities laws and rules, fraud, deceit, recklessness, negligence, breach of fiduciary duties, and violations of PR contract law (Puerto Rico bonds and closed-end funds). Includes request for rescission, interest, fees, costs, and disgorgement of commission and fees

$1,100,000.00

$375,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy.

Client alleges unsuitability, over-concentration, breach of fiduciary duties, negligence, negligent supervision, failure to supervise, fraud, breach of contract, and violations of securities laws and rules (Puerto Rico municipal bonds and closed-end funds). Includes request for rescission, punitive damages, interest, costs and fees

$42,000.00

$25,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. The client wanted investment grade tax free PR Government bonds which produced income, and that is what I presented to the client, and that is what the client approved us to buy. Client was advised to diversify with US tax-free bonds, but due to lower rates, she requested PR bonds. I deny all the stated claims by the client or the client's counsel.

Client alleges unsuitability, over-concentration, fraud, breach of fiduciary duty, violations of the securities laws and regulations, breach of contract, negligence, negligent misrepresentation and omission, control person liability and failure to supervise (Puerto Rico municipal bonds). Includes request for rescission, disgorgement of commission/fees, interest, costs, fees, and punitive damages.

$100,000.00

$17,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 8/22/20, the Firm settled this matter for $17000. The representative was not asked to contribute to the settlement.

Client alleges over-concentration, scalping, violations of securities laws and FINRA rules, negligent misrepresentation and omission, breach of fiduciary duty, negligence in violation of industry standards, failure to supervise, and breach of contract, negligent supervision (Puerto Rico bonds and closed-end funds). Includes request for punitive damages, interest, cost and fees.

$400,000.00

$170,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 12/10/19, the Firm has settled this case for $170,000. The representative was not asked to contribute to the settlement.

Client alleges unsuitability, over-concentration, failure to supervise, aiding and abetting, fraudulent concealment, violations of securities laws and rules, securities fraud, fraud, deceit, recklessness, negligence, breach of contract, breach of fiduciary duties, and violations of PR contract law (Puerto Rico bonds and closed-end funds). Includes request for rescission, interest, fees, costs, and disgorgement of commission and fees, and statutory costs.

$200,000.00

$53,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 2/24/20, the Firm settled this matter for $53,000. The representative was not asked to contribute to the settlement.

Client alleges over-concentration, unsuitability, breach of fiduciary duty, breach of contract, contractual negligence, fraud, constructive fraud, failure to supervise, and violations of securities laws and rules (Puerto Rico bonds). Includes request for interest, costs and fees.

$275,000.00

$70,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 11/16/20, the Firm has settled this case for $70,000. The representative was not asked to contribute to the settlement.

Client alleges over-concentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, failure to supervise, breach of duty of good faith and fair dealing (Puerto Rico bond funds). Includes request for punitive damages, interest, costs and fees.

$250,000.00

$18,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. The client wanted investment grade tax free PR Government bonds which produced income, and that is what I presented to the client, and that is what the client approved us to buy. Client was advised to diversify with US tax-free bonds, but due to lower rates, she requested PR bonds. I deny all the stated claims by the client or the client's counsel.

Client alleges, among other things, overconcentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, failure to supervise, breach of duty of good faith and fair dealing (Puerto Rico bonds and closed-end funds). Includes request for punitive damages, interest, costs and fees.

$90,000.00

Client alleges, among other things, overconcentration, unsuitability, breach of fiduciary duty, breach of contract, contractual negligence, fraud, constructive fraud, failure to supervise, and violations of securities laws and rules (Puerto Rico bond and closed-end funds). Includes request for interest, costs and fees.

$500,000.00

$60,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 10/21/20, the Firm settled this matter for $60,000. The representative was not asked to contribute to the settlement.

Client alleges, among other things, unsuitability, overconcentration, violations of securities laws and rules, fraud, breach of fiduciary duty, breach of good faith and fair dealings, negligence, failure to supervise, breach of contract, and gross and wanton negligence (Puerto Rico bonds). Includes request for punitive damages, interest, costs and fees, disgorgement of commission and rescission.

$640,457.13

$100,000.00

("Mr. Alvarado is not a named respondent to this claim and he vehemently denies the claims, since client was recommended to diversify the portfolio early in the relationship, including investing in tax-exempt US municipal bonds". Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 12/23/20, the Firm has settled this case for $100,000. The representative was not asked to contribute to the settlement.

Client alleges, among other things, overconcentration, unsuitability, breach of fiduciary duty, breach of contract, contractual negligence, fraud, constructive fraud, failure to supervise, and violations of securities laws and rules (Puerto Rico bonds and bond funds). Includes request for interest, and fees.

$375,000.00

$80,000.00

Carlos Alvarado is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 9/4/20, the Firm settled this matter for $80,000. The representative was not asked to contribute to the settlement.

Clients allege, among other things, Overconcentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, negligent supervision, breach of duty of good faith and fair dealing (Puerto Rico bonds and closed-end funds). Includes claims for punitive damages, interest, and fees.

$335,000.00

$300,000.00

Carlos Alvarado is not a named respondent to this arbitration.

Client alleges, among other things, breach of fiduciary duty, negligence, unsuitability, over-concentration, fraud, failure to supervise, violations of securities laws and breach of contract (Puerto Rico bonds, closed-end funds and open-end funds).

$250,000.00

$95,000.00

Carlos Alvarado is not a named respondent to this arbitration. As of 7/1/19, the Firm settled this matter for $95,000. The representative was not asked to contribute to the settlement.

Client alleges fraud, breach of fiduciary duty, breach of contract, negligence, negligent misrepresentation and omission, unsuitability, overconcentration, failure to supervise (Puerto Rico bonds and closed-end funds).

$100,000.00

Client alleges breach of fiduciary duty, negligence, breach of contract, and failure to supervise (Puerto Rico municipal bonds).

$62,000.00

$15,000.00

Client alleges negligent misrepresentation and omission, breach of fiduciary duty, negligent supervision and failure to supervise (Puerto Rico closed-end funds).

$170,000.00

Clients allege fraud, deceit, recklessness and negligence (Puerto Rico municipal bonds and closed-end funds.

$1,200,000.00

$265,000.00

Carlos Alvarado is not a named respondent to this arbitration. As of 6/17/2019, the Firm settled this matter for $265,000. The representative was not asked to contribute to this settlement..

CLIENTS ALLEGE FRAUD, UNSUITABILITY, NEGLIGENCE, BREACH OF CONTRACT, BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT (PUERTO RICO MUNICIPAL BONDS, CLOSED-END FUNDS).

$410,000.00

CARLOS ALVARADO IS NOT A NAMED RESPONDENT TO THIS ARBITRATION.

CLIENT ALLEGES BREACH OF FIDUCIARY DUTY, NEGLIGENCE, BREACH OF CONTRACT, FRAUD, MISREPRESENTATIONS, AND FAILURE TO SUPERVISE.

$406,000.00

$236,000.00

CARLOS ALVARADO IS NOT A NAMED RESPONDENT TO THIS ARBITRATION. AS OF 12/15/2016, THE FIRM HAS SETTLED THIS CASE FOR $236,000. THE REPRESENTATIVE WAS NOT ASKED TO CONTRIBUTE TO THE SETTLEMENT

CLIENTS ALLEGE FRAUD, BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT, NEGLIGENCE, NEGLIGENT MISREPRESENTATION AND OMISSION, UNSUITABILITY, OVERCONCENTRATION, FAILURE TO SUPERVISE (PUERTO RICO MUNICIPAL BONDS, CLOSED-END FUNDS).

$50,000.00

$20,000.00

Carlos Alvarado is not named as a respondent to this arbitration. The firm has settled this case for $20,000. The representative was not asked to contribute to the settlement.

CLIENT ALLEGES THAT THE INVESTMENTS WERE UNSUITABLE BASED ONE HER INVESTMENT OBJECTIVES AND FINANCIAL POSITION.

$35,896.00

WE HAVE FOUND NOTHING TO SUGGEST THAT MR. ALVARADO HAS MISREPRESENTED THE INVESTMENTS OR ANY OTHER WRONGFUL ACTS OCCURRED WHICH WARRANTS A REIMBURSEMENT.

CLIENT ALLEGES AN UNAUTHORIZED TRANSACTION THAT RESULTED IN A TAX LOSS.

$187,326.00

$11,711.75

TRADES REVERSED AT A LOSS TO THE FIRM IN THE AMOUNT OF $11,711.75. NO CONTRIBUTION BY THE REPRESENTATIVE.