John Alex (CRD: 2020710) settled customer disputes at Morgan Stanley and UBS Financial Services between 2011 and 2025, according to BrokerCheck, which lists him as John L. Alex.
Soreide Law Group is investigating possible investor claims against securities broker Nicholas Teutonico (also known as Patrick Nicholas Teutonico) [CRD: 2875434, Seaford, NY]. Mainly, FINRA sanctioned the securities broker, who worked for Network 1 Financial Securities Inc. Allegedly, Teutonico engaged in excessive trading. Here is a brief summary of FINRA’s allegations against Teutonico.
Evidently, on April 8, 2022, FINRA issued Case: 2019061956701 sanctioning Nicholas Teutonico for infractions. Specifically, Teutonico was issued a 3-month suspension. Notably, FINRA alleged that Teutonico engaged in excessive trading. Supposedly, he caused a client’s account to have unreasonably high commissions and trading costs.
Also, a client of Network 1 Financial Securities Inc. contested Nicholas Teutonico’s sales practices by filing FINRA Arbitration: 19-02809. Allegedly, Teutonico breached a fiduciary duty, breached a contract, and negligently supervised certain representatives. It is alleged that Teutonico caused the client to sustain damages. Therefore, Network 1 Financial Securities Inc. opted to settle the matter on January 19, 2022, by compensating the client in the amount of $14,995. However, the securities firm and Teutonico admit no liability in this settlement.
Additionally, a Network 1 Financial Securities Inc. client filed FINRA Arbitration: 18-02714 about Nicholas Teutonico. Namely, the client alleged that Teutonico violated state laws, violated federal securities laws, acted unethically, made unsuitable recommendations, engaged in unauthorized trading, churned accounts, made misrepresentations to the client, breached a fiduciary duty, was negligent, breached a contract, failed to supervise registered representatives, and violated FINRA rules. Because of this, the client allegedly sustained damages on securities. Therefore, on September 6, 2019, a FINRA Arbitration Panel issued an Award ordering Network 1 Financial Securities Inc. and Teutonico to pay the client $169,354 in damages.
Also, a client of Network 1 Financial Securities Inc. contested Nicholas Teutonico’s sales practices by filing FINRA Arbitration: 15-03128. Allegedly, Teutonico engaged in excessive trading. It is alleged that Nicholas Teutonico caused the client to sustain damages on over-the-counter equities and stocks. Therefore, Network 1 Financial Securities Inc. opted to settle the matter, with no admission of liability, on January 19, 2017, by compensating the client in the amount of $35,000.
Moreover, on October 24, 2016, a Network 1 Financial Securities Inc. client filed FINRA Arbitration: 16-03163 about Nicholas Teutonico. Namely, the client alleged that Teutonico breached a fiduciary duty, made misrepresentations to the client, and breached a contract. Because of this, the client allegedly sustained damages on stocks and options. Therefore, the client requested $150,000 in compensation from Network 1 Financial Securities Inc. or Teutonico.
Also, a client of GunnAllen Financial contested Nicholas Teutonico’s sales practices, according to a complaint. Allegedly, Teutonico made unsuitable investment recommendations. Supposedly, Nicholas Teutonico caused the client to sustain damages on over-the-counter equities. Therefore, GunnAllen Financial opted to settle the matter on December 19, 2006, by compensating the client in the amount of $4,000. Although, GunnAllen Financial and the securities broker admit no liability in this settlement.
Teutonico has worked for Network 1 Financial Securities Inc. in Seaford, NY, as a securities broker since December 7, 2012.
Did you incur damages through investing with Nicholas Teutonico? If so, contact Soreide Law Group at (888) 760-6552 and speak with a securities lawyer concerning a potential recovery of your investment losses. Soreide Law Group, who has effectively recovered money for hundreds of investors in all 50 states, represents clients on a contingency fee basis and advances all costs. The firm will take the time to fully understand your situation and will carefully explain your legal options. Nicholas Teutonico and brokerage firms Teutonico worked for deny any and all allegations of sales practice violations.
John Alex (CRD: 2020710) settled customer disputes at Morgan Stanley and UBS Financial Services between 2011 and 2025, according to BrokerCheck, which lists him as John L. Alex.
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