National investment loss lawyers KlaymanToskes is investigating broker James Pecoraro (CRD# 2440231) of Spartan Capital Securities.
According to FINRA BrokerCheck, broker James Pecoraro, of Spartan Capital Securities, is currently being investigated by the Financial Industry Regulatory Authority (“FINRA”) for alleged violations of FINRA Rules 2111 and 2010 for unsuitable and excessive trading; and willful violation of the Best Interest Obligation (Wells Notice #20180564903). Pecoraro is also involved in an investor complaint alleging $500,000 due to Negligence, Misrepresentation, Breach of Fiduciary Duty, Deception, Exploitation, and Negligent Supervisor.
Investors that suffered losses with broker James Pecoraro are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Financial advisor James Pecoraro is currently being investigated by the Financial Industry Regulatory Authority (“FINRA”) (Wells Notice #20180564903), for violation of the Best Interest Obligation under Rule 15l-1 of the Securities and Exchange Act of 1934 (Reg BI) and violation of FINRA Rule 2010 for excessive trading. According to the broker comment, “Mr. Pecoraro denies the allegations. All transactions were authorized, all commissions were fully disclosed and agreed upon and all transactions were suitable for the customers and consistent with their express investment objectives and risk tolerance. The Clients were updated both verbally as well as in writing of all activity in their accounts and required to confirm such activity via the execution of correspondence received. The allegations are false, Mr. Pecoraro intends to defend the matter vigorously and fully expects to prevail at a hearing on the merits.”
Pecoraro is also involved in a customer complaint alleging $500,000 in investor damages due to Negligence, Misrepresentation, Breach of Fiduciary Duty, Deception, Exploitation, and Negligent Supervisor. The broker’s comment for the disclosure states: “The allegations are wholly without merit. I intend to defend any prospective action vigorously and expect to prevail at a hearing on the merits.”
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker James Pecoraro, or have concerns regarding your investment portfolio at Spartan Capital Securities, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.