Michael G. Mancinelli (also known as Michael Mann), a stockbroker formerly registered with Dinosaur Financial Group LLC, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he engaged in unauthorized trading when he was registered with Dinosaur Financial Group. Letter of Acceptance, Waiver, and Consent No. 2022073661801 (February 4, 2022).
According to the AWC, 460 transactions involving the purchase and sale of municipal securities had been executed by Mancinelli in a customer’s account between February 3, 2017, and August 30, 2017. The AWC states that Mancinelli used his discretion to make most of the trades, but he lacked written authorization to make discretionary trades during that period. FINRA states that Mancinelli violated MSRB Rules G-8 and G-17.
Between February 3, 2017, and December 31, 2017, Mancinelli also mismarked 810 transactions as unsolicited despite Mancinelli having recommended for the customer to buy and sell municipal bonds. Mancinelli violated MSRB G-8 for causing inaccurate records and books to be maintained by Dinosaur Financial Group regarding his trading.
Mancinelli was employed by Dinosaur Financial Group between February 1, 2017, and October 17, 2018. He was associated with Celadon Financial Group between November 8, 2018, and February 19, 2020.