Enrique Cisneros, Jr.—Misappropriation of Funds

Enrique Cisneros Jr. Allegedly Misappropriated Approximately $550 in Customer Funds Remitted to Pay a Premium on his Life Insurance Policy which Later Lapsed

Enrique Cisneros Jr., who worked for NYLIFE Securities LLC in El Paso, Texas, allegedly misappropriated approximately $550 in funds remitted by a customer to pay a premium on his life insurance policy and as a result, the customer’s policy lapsed, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).

Cisneros was purportedly permitted to resign after a customer complained that Cisneros allegedly ”collected cash from a client to pay the premium for a traditional life insurance policy, but… kept a portion of the cash for his own personal use and benefit”, according to the aforementioned AWC.

Cisneros, as part of a FINRA investigation that he misappropriated funds, requested, and in a letter dated January 25, 2016, that he appear for on-the-record testimony (OTR) pursuant to FINRA Rules, the AWC notes.

Enrique Cisneros Jr. Barred by FINRA for Failure to Appear for an On-the-record Interview during the Course of an Investigation into a Customer Complaint

Enrique Cisneros Jr. allegedly failed to appear for the aforementioned OTR on January 29, 2016, according to the AWC.

Cisneros, through a telephone call and an e-mail exchange between Cisneros’s attorney and FINRA, purportedly acknowledged that he received FINRA’s request for testimony and that he would not appear for an OTR at any time, the AWC reports.

Cisneros, as a result of refusing the request for the OTR, allegedly violated FINRA Rules, and, hence, has been barred by FINRA.

The Peiffer Rosca Wolf Securities Lawyers Often Assist Investors

The Peiffer Rosca Wolf securities lawyers assist investors who lose money as a result of misappropriation of funds. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of brokers misappropriating funds are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1157 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.