The allegations read: Angel manuel canabal was a subject of the customer's complaint against his member firms that asserted the following causes of action in the initial claim: breach of fiduciary duty; breach of a broker's duty of reasonable care; breach of a broker's duty to supervise and ensure compliance with firm and industry rules; negligent and intentional misrepresentation; fraud and deceit; breach of contract and the covenant of good faith and fair dealing; gross negligence and ordinary negligence; violations of state and federal securities laws; violations of finra rules of fair practice, including the "suitability" and "know your customer" rules and "margin maintenance" rules; and respondeat superior and control person liability. The causes of action relate to claimants' investments in puerto rico bonds and closed-end bond funds, as well as the use of margin loans to purchase securities. In the amended statement of claims, the claimants asserted the following causes of actions: breach of fiduciary duty; negligence; negligent supervision; fraud; breach of contract; breach of contract - third party beneficiary; and violation of section 10(b) of the securities exchange act and rule 10b-5 of the securities and exchange commission. The causes of action relate to claimants' investments in puerto rico bonds and closed-end bond funds, as well as the use of margin loans to purchase securities.
