Mary Ann Wise (also known as Mary Ann Bugliaro and as Mary Ann Ricker) of Hackensack New Jersey a stockbroker formerly registered with Garden State Securities Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $20,000.00 in damages founded on allegations that (1) unauthorized options and equities trades were effected in the customer’s brokerage account while Wise was associated with Garden State Securities and (2) stocks and over-the-counter equities executed in the customer’s account were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02606 (Feb. 5, 2018).
FINRA Public Disclosure reveals that this is the first customer initiated investment related dispute involving accusations of Wise’s misconduct since Wise was sanctioned by FINRA. In particular, Wise has been barred from associating with any FINRA member in any capacity founded on findings that Wise obstructed a FINRA investigation concerning allegations of his affiliation with a stockbroker that the regulator barred. Letter of Acceptance Waiver and Consent No. 2016049172801 (May 11, 2017).
According to the AWC, the investigation launched by FINRA concerned Wise’s involvement with the barred stockbroker while Wise was employed by securities brokers, Blackbook and Garden State. Wise was reportedly instructed by FINRA to make an appearance for testimony on April 21, 2017. Yet, he was dismissive of FINRA’s requests, choosing not to attend on that day or cooperate any further with FINRA’s investigation. FINRA found Wise’s conduct violative of FINRA Rules 2010 and 8210.
Wise’s registration with Blackbook Capital LLC has been terminated as of February 2, 2016. Evidently, Blackbook Capital was expelled by FINRA for failing to pay a fine which the regulator imposed based in part on findings of the firm charging customers commissions improperly disguised as fees; and Blackbook Capital charging customers unreasonable fees on the transactions placed in its customers’ accounts; conduct violative of Securities Exchange Act of 1934; SEC Rule 10b-10 and FINRA Rule 2010. Letter of Acceptance Waiver and Consent No. 2011025700901. Wise has also been employed by twenty-six broker dealers, eight of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
