Letter of Acceptance, Waiver and Consent, No. 2011026804401, August 17, 2012, Los Angeles, California
After FINRA opened an investigation into Mr. Alvarez’s alleged borrowing and/or misusing of client funds, he failed to respond to the FINRA staff’s letters requesting information or an on-the-record interview. Mr. Alvarez responded to a later communication regarding another on-the-record hearing by email. However, he stated that he no longer resided in the United States and did not plan on returning to provide testimony. Mr. Alvarez agreed to a letter of acceptance, waiver, and consent, barring him from associating with any FINRA member as a result of his violations of FINRA Rules 8210 and 2010.