Robert Michael Giusti, of New York, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Inc., has been named in a customer initiated investment related arbitration claim on April 24, 2015, in which a customer was ultimately awarded $300,000.00 in damages based upon allegations that from 2010 to 2015, Giusti made misrepresentations and omissions to the customer, effected trades on an excessive basis, and made unsuitable investment recommendations to the customer concerning commodity options and exchange traded funds.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Giusti has been named in three additional customer initiated investment related disputes regarding allegations of Giusti’s misconduct while employed with Citicorp Investment Services, HSBC Securities (USA) Inc., and Merrill Lynch. Specifically, on March 30, 2005, a customer initiated investment related arbitration claim involving Giusti’s conduct was settled for $78,000.00 in damages based upon allegations that Giusti failed to disclose tax related information to the customer pertaining to the liquidation of a fixed annuity contract.
On October 22, 2008, a customer initiated investment related written complaint regarding Giusti’s activities was resolved for $100,000.00 in damages based upon allegations that the customer bought auction rate securities pursuant to Giusti’s faulty advice, which caused the customer to suffer investment losses. Additionally, on February 22, 2012, a customer initiated investment related written complaint involving Giusti’s conduct was settled for $45,000.00 in damages based upon allegations that Giusti utilized the customer’s margin in an unauthorized manner, and made unsuitable investment recommendations to the customer regarding options products.
Giusti’s registration with Merrill Lynch, Pierce, Fenner & Smith Inc. was terminated on December 9, 2013. Since December 6, 2013, Giusti has been registered with Wells Fargo Clearing Services, LLC.
Guiliano Law Group
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