Gary R. Gygi of Cedar Hills Utah a stockbroker formerly employed by WBB Securities LLC is referenced in a customer initiated investment related written complaint which was resolved on November 21, 2017 for $105,000.00 in damages supported by allegations that Gygi mishandled the customer’s investment account resulting in the customer’s over-the-counter equities losses.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on February 7, 2001, another customer initiated investment related complaint regarding Gygi’s activities was settled for $11,000.00 in damages based upon accusations that while Gygi was associated with Morgan Stanley Dean Witter Reynolds Inc., the customer’s investment account transfer instructions were not followed, which resulted in the customer incurring an undue tax liability.
Thereafter, on October 6, 2017, a customer initiated investment related complaint involving Gygi’s conduct was resolved for $40,000.00 in damages founded on allegations that between November of 2013 and January of 2013, while Gygi was registered with Gygi Capital Management, he placed unsuitable stock and over-the-counter equities transactions in the customer’s investment advisory account.
Gygi has also been fined $4,000.00 by Utah Division of Securities based upon his consent to the Division’s findings that while Gygi was employed by SMC Capital Management, Inc. and WBB Securities, he committed securities fraud in violation of Utah Uniform Securities Act Section 61-1-1(2), and executed sales in the state without having been registered as an investment advisor in violation of Utah Uniform Securities Act Section 61-1-3(3). Case No. SD-07-0055 (June 18, 2018).
Gygi’s registration with WBB Securities has been terminated as of December 31, 2017. Since January 31, 2018, Gygi has been registered with Union Capital Company.
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