Robert Estevez—Recommending Unsuitable Transactions

Rochester stockbroker fraud attorneyRobert Estevez Allegedly Recommended Unsuitable Steepener Transactions in Customer Accounts

Robert Estevez allegedly recommended unsuitable steepener transactions in customer accounts, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).

Steepener accounts involve highly leveraged purchases of short-term bonds and bearish bets on long-term bonds with the hope that the difference between the yields on short-term and long-term bonds will widen and produce profits.

The Peiffer Rosca Wolf securities lawyers are currently investigating Robert Estevez’s alleged recommended unsuitable steepener transactions.

Robert Estevez Suspended and Fined $20,000 by FINRA for Allegedly Recommending Unsuitable Steepener Transactions

Robert Estevez, from May 2011 through Sept 2012, allegedly recommended 25 short-term steepener transactions for 19 customers, according to the aforementioned AWC currently under review by attorneys Alan Rosca and James Booker.

Estevez allegedly recommended the aforementioned products as part of a so-called active, short-term trading strategy, the AWC notes. This alleged short-term trading strategy was deemed unsuitable by FINRA, and purportedly resulted in an aggregate of about $24,000 in customer losses, the AWC further alleges.

Based on the aforementioned behavior, Estevez allegedly violated FINRA Rules and hence has been fined $20,000 and suspended by FINRA, the AWC reports. One should also note that, according to the AWC, Robert Estevez neither admitted nor denied the FINRA findings

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged securities fraud scams and are currently investigating Robert Estevez alleged recommendation of unsuitable steepener transactions. 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 Robert Estevez’s alleged recommendation of unsuitable steepener transactions may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, 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.