Our firm is investigating Safra Securities LLC broker Fabio Lazaro Filgueiras (CRD# 6082598) of Aventura, Florida for potential investment-related misconduct.
Stockbroker’s Career History
Registration and Employment Background
Based on his FINRA BrokerCheck report, Fabio Lazaro Filgueiras has been registered in the securities industry since 2012 and is currently registered with Safra Securities LLC in Aventura, Florida. He has been registered with Safra Securities LLC since February 6, 2020.
Before joining Safra Securities LLC, Filgueiras was registered with Aegis Capital Corp. in Miami, Florida from December 2018 through January 2020. Before that, he was registered with Citigroup Global Markets Inc. in Miami, Florida from December 2015 through January 2019, J.P. Morgan Securities LLC in Fort Lauderdale, Florida from October 2012 through November 2015, and Chase Investment Services Corp. in Aventura, Florida from July 2012 through October 2012.
The BrokerCheck report also reflects outside investment-related employment with Safra National Bank of New York in Aventura, Florida, where he has served as Assistant Vice President since February 2020.
Fabio Lazaro Filgueiras Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck reflects one final customer dispute disclosure involving Filgueiras. According to the firm-reported version of the complaint, the matter involved alleged unauthorized trading and poor performance during the time frame of January 2019 through December 2020 while he was associated with Aegis Capital Corp. The complaint was received on April 19, 2021, the firm estimated damages at approximately $19,686.00, and the matter was marked settled on February 15, 2022 for $14,900.00, with no individual contribution reported from Filgueiras.
The broker-reported version states that the client alleged unauthorized trading and poor performance from 2019 through 2020, with alleged damages listed as $19,186.00. That version reflects a complaint received date of May 19, 2021 and the same settlement date of February 15, 2022 for $14,900.00, again with $0.00 listed as Filgueiras’s individual contribution. In his BrokerCheck statement, Filgueiras wrote that the complaint appeared to be primarily against another registered representative and related in part to a period in 2020 when he was no longer at the firm.
The disclosure does not list a product type and identifies the matter as a written customer complaint rather than an arbitration or civil action. Even so, allegations of unauthorized trading are significant because they typically center on whether trades were placed without the customer’s prior knowledge, consent, or written discretionary authority.
Disclosure Summary
- Customer Dispute (Firm-reported) — Allegations: unauthorized trading and poor performance at Aegis Capital Corp. during January 2019 through December 2020; complaint received April 19, 2021; estimated damages approximately $19,686.00; Disposition: settled on February 15, 2022 for $14,900.00; individual contribution $0.00.
- Customer Dispute (Broker-reported) — Allegations: unauthorized trading and poor performance from 2019 through 2020; complaint received May 19, 2021; alleged damages $19,186.00; Disposition: settled on February 15, 2022 for $14,900.00; individual contribution $0.00.
- Broker Statement — Filgueiras stated the complaint appeared to be primarily against another registered representative and partly concerned a period when he was no longer employed at Aegis Capital Corp.
To obtain a copy of Fabio Lazaro Filgueiras’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
How Our Firm Helps Investors Pursue Recovery
Investors who suffer losses from unauthorized trading, unsuitable activity, or other broker misconduct may be able to pursue recovery through FINRA arbitration and other legal avenues. Robert Wayne Pearce has spent decades representing clients in claims involving broker negligence, misrepresentations, unsuitable recommendations, and unauthorized account activity.
How FINRA Rules May Apply to the Allegations
Although the BrokerCheck report does not say that FINRA formally charged Filgueiras with violating any specific rule in this matter, allegations like these are often analyzed under FINRA Rule 3260, which governs discretionary accounts. That rule provides that a registered representative may not exercise discretionary power in a customer’s account unless the customer has provided prior written authorization and the account has been accepted by the firm in writing. When a customer alleges unauthorized trading, one central question is whether the broker had valid authority to place trades without obtaining prior approval for each transaction.
These allegations may also be evaluated in light of FINRA Rule 2090, the Know Your Customer rule. Rule 2090 requires firms and associated persons to use reasonable diligence to know the essential facts concerning each customer and the authority of each person acting on the customer’s behalf. In a dispute involving allegedly unauthorized trades, that issue can matter because the broker and firm are expected to understand who had authority over the account and what limits applied to trading activity.
In addition, alleged unauthorized trading can implicate FINRA Rule 2010, which requires members to observe high standards of commercial honor and just and equitable principles of trade. Even where a complaint resolves by settlement and without an adjudicated finding, investors and counsel often examine Rule 2010 because executing trades without proper customer approval can raise broader questions about ethical sales practices and fair dealing.
For over 45 years, Robert Wayne Pearce has helped investors recover investment losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.