Investors File Disputes About Broker James Pecoraro

Investor Alert! The Financial Industry Regulatory Authority (“FINRA”) reports alarming information in regard to securities broker James Pecoraro [CRD#: 2440231, Garden City, New York]. Evidently, at least 10 clients raised serious concerns about the securities broker, who worked for SW Financial between 2016 and 2019 and who joined Spartan Capital Securities in November 2019. Also, the securities broker reports reprimand or sanctions from securities regulators on five occasions. In sum, these disclosures suggest that Pecoraro made unauthorized and unsuitable sales, and that he failed to comply with his fiduciary responsibility to clients. Read on to learn more concerning the allegations against Pecoraro.

James Pecoraro Allegedly Deceives SW Financial Client

Notably, a client of SW Financial brought FINRA Arbitration #: 19-00482 on February 18, 2019. First of all, the client indicated that Pecoraro negligently recommended or sold investments. Secondly, the securities broker allegedly acted deceptively and executed unreasonable and unauthorized trades. Thirdly, Pecoraro purportedly breached a fiduciary duty by placing his interests before the client’s interests. Finally, the securities broker allegedly misrepresented facts relating to stock trades. Supposedly the common or preferred stocks which Pecoraro recommended or sold had caused the client to incur losses. As a result, SW Financial agreed to resolve the matter on August 26, 2019 through paying the client $36,000.

Rockwell Global Capital Client Suggests That Pecoraro Breached Fiduciary Duty

Apparently, on June 15, 2017, a Rockwell Global Capital client filed FINRA Arbitration #: 17-01458 concerning James Pecoraro. Namely, the client contended that Pecoraro breached his fiduciary responsibility and also breached a contract. Allegedly, the securities broker was negligent and possibly reckless in making securities transactions. As a result, the client experienced losses on common or preferred stocks. For this reason, on July 10, 2017, Rockwell Global Capital settled this client’s dispute through a payment of $13,500.

FINRA Suspends James Pecoraro

Evidently, in 2010, FINRA suspended James Pecoraro for excessive trading in violation of NASD rules. Notably, FINRA indicated that his trading at J.P. Turner & Company LLC was not supported by his client’s objectives, situations and needs. For violating NASD Rules 2110 and 2310, FINRA issued him a month-long suspension and $10,000 fine.

Colorado Division Of Securities Suspends Pecoraro For Allegedly Deceiving Harrison Securities Client

Apparently, in 2004, Colorado Division of Securities issued a three year suspension to Pecoraro. Mainly, the Division asserted allegations against Pecoraro including unauthorized trading and unsuitable trading. The suspension related to Pecoraro’s equity transactions while working for Harrison Securities, Inc.

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Did James Pecoraro Sell You Bad Investments?

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