James Robert Pecoraro of Melville New York a stockbroker currently employed by SW Financial is referenced in a customer initiated investment related arbitration claim which was resolved for $36,000.00 in damages based upon allegations that Pecoraro (1) misrepresented information concerning the customer’s equity transactions (2) effected unauthorized trades (3) breached his fiduciary duty to the customer (4) executed transactions which failed to be suitable (5) negligently transacted in the customer’s account (6) and engaged in fraudulent activities while associated with SW Financial. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00482 (Aug. 26, 2019).
FINRA Public Disclosure confirms that Pecoraro has been identified in nine more customer initiated investment related disputes containing accusations of the stockbroker’s violative conduct while employed with securities broker dealers including Rockwell Global Capital LLC, Harrison Securities Inc., SW Financial, and J.P. Turner Company LLC. Specifically, a customer initiated investment related complaint concerning Pecoraro’s activities was settled for $50,000.00 in damages supported by allegations of unauthorized trading of equities in the customer’s account by Pecoraro when he was employed by Harrison Securities Inc.
Another customer initiated investment related complaint regarding Pecoraro’s conduct was resolved for $9,999.00 in damages founded on accusations that the customer’s account had been mishandled by the stockbroker. Pecoraro is also the subject of a customer initiated investment related arbitration claim in which the customer was awarded $235,735.00 in damages based upon findings of Pecoraro effecting unauthorized over-the-counter equities trades in the customer’s account; executing inappropriate transactions on margin; and charging the customer unwarranted commissions.
In addition, a customer initiated investment related complaint involving Pecoraro’s activities was settled for $55,000.00 in damages based upon allegations against Pecoraro of breach of fiduciary duty, unsuitability, unauthorized trading, churning and fraud in regard to the over-the-counter equities trades that Pecoraro effected when he was employed by J.P. Turner Company LLC. Also, Pecoraro is the subject of a customer initiated investment related arbitration claim which was resolved for $13,500.00 in damages supported by accusations that when Pecoraro was associated with Rockwell Global Capital LLC, contractual obligations had been violated; the customer’s account was handled in a negligent manner; and fiduciary duties were breached through the stock trades Pecoraro executed. FINRA Arbitration No. 17-01458 (July 10, 2017).
FINRA Public Disclosure additionally reveals that Pecoraro has been sanctioned at least five times for misconduct in the securities industry. For example, Pecoraro was fined $10,000.00 and suspended from associating with any FINRA member in any capacity supported by findings that when Pecoraro was associated with J.P. Turner Company LLC, trades had been effected in customer accounts in an excessive manner given the customer’s needs, investment circumstances and objectives for investing; conduct violative of NASD Rules 2310 and 2110. Letter of Acceptance Waiver and Consent No. 2008013187801.
Pecoraro has been registered with SW Financial since September 14, 2016.
