John F. Riccardi Jr., of New York, NY, a stockbroker formerly registered with Meyers Associates LP, is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice stating that regulatory action was recommended against him by FINRA based upon allegations that he violated FINRA Rules 2020 and 2010, as well as Securities and Exchange Act of 1934 Section 10(b) and Securities and Exchange (SEC) Commission Rule 10b-5. Case No. 20160489127 (Nov. 14, 2016).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Riccardi has been identified in three additional customer initiated investment related disputes containing allegations of his misconduct while employed with Meyers Associates, LP. Particularly, on October 27, 2008, a customer filed an investment related written complaint involving Riccardi’s conduct, in which the customer requested $34,000.00 in damages based upon allegations that he made unsuitable investment recommendations to the customer concerning equities, causing the customer to sustain investment losses.
Subsequently, on June 25, 2012, a customer filed an investment related written complaint involving Riccardi’s conduct, in which the customer requested $100,000.00 in damages based upon allegations that Riccardi charged the customer with excessive commissions in reference to stock transactions effected in the customer’s account. Moreover, he became the subject of a customer initiated investment related arbitration claim on April 5, 2017, where the customer requested $175,000.00 in damages based upon allegations that Riccardi placed unsuitable over-the-counter equities transactions in a customer’s account.
Since March 23, 2004, Riccardi has been associated with four different broker dealers, three of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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