PETER N GIRGIS of SW Financial

According to FINRA’s BrokerCheck, PETER N GIRGIS (CRD#: 4520444) was fined $7,500.00, suspended  in all capacities for 9 months (1/3/2022 - 10/2/2022), and ordered to pay $169,677.00 in restitution by FINRA. Girgis is currently registered with SW Financial, New York, NY, since 12/10/2019.
Without admitting or denying FINRA’s findings, PETER N GIRGIS consented to the sanctions and to the entry of findings that he allegedly engaged in excessive and quantitatively unsuitable trading in client accounts.
FINRA’s findings stated that PETER N GIRGIS allegedly recommended high frequency trading in the clients’ accounts with each client often holding concentrated positions in one or two securities for short periods of time.
According to FINRA, PETER N GIRGIS’s clients routinely followed his recommendations and, as a result, Girgis allegedly exercised de facto control over the clients’ accounts. FINRA states that Girgis’s trading of the clients’ accounts allegedly resulted in high turnover rates and cost-to-equity ratios as well as significant losses.
As a result of Girgis’s excessive trading, the clients allegedly suffered collective realized losses of $224,573, while paying total trading costs of $199,622, including commissions of $181,877, according to FINRA.
FINRA’s BrokerCheck states that PETER N GIRGIS has been in the securities industry for 19 years and listed with 8 firms. Girgis has 10 disclosures on his FINRA CRD report.  Six of the disclosures are “Customer Disputes,” 3 are “Regulatory,” and 1 is an “Employment Separation after Allegations” from JOSEPH GUNNAR & CO., LLC in 2013. Some of the claims in the customer disputes that have settled are: misappropriation of funds, unauthorized transactions, misrepresentations, recklessness, negligence, breach of contract, unsuitability, churning, and negligent misrepresentation. Girgis denies all allegations.
Previous to SW Financial, Girgis was registered with the following firm:
11/04/2016 - 12/10/2019  WORDON CAPITAL MANAGEMENT LLC - New York, NY
If you’ve experienced financial losses due to the actions or recommendations of broker PETER N GIRGIS currently registered with SW Financial, New York, NY, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.