Peter N. Girgis of New York, New York, a stockbroker registered with SW Financial, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $1,057,195.00 in damages based upon allegations that Girgis engaged in excessive and unsuitable trading, charged excessive commissions, and made misrepresentations of material fact in connection with the sale of stocks and over-the-counter equities when Girgis was associated with SW Financial. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-01195 (January 6, 2023).
FINRA Public Disclosure shows that Girgis is referenced in eight other customer initiated investment related disputes concerning Girgis’ conduct while associated with securities broker dealers. On March 18, 2010, a customer initiated investment related complaint involving Girgis’ conduct was settled for $75,000.00 in damages based upon allegations that Girgis engaged in excessive and unauthorized trading, committed fraud, breached his fiduciary duties, made misrepresentations of material fact, and made unsuitable recommendations of over-the-counter equities when Girgis was associated with J.P. Turner Company LLC.
On May 26, 2016, a FINRA securities arbitration claim involving Girgis’ conduct was settled for $9,999.00 in damages based upon allegations that Girgis committed fraud, breached a contract, churned accounts, made unsuitable recommendations and misrepresentations of material fact in connection with the sale of stocks and over-the-counter equities when Girgis was associated with Brookstone Securities Inc. FINRA Arbitration No. 15-03051.
Girgis was also referenced in a complaint that was settled on March 22, 2017, for $4,999.00 in damages based upon allegations that Girgis churned accounts and charged excessive commissions in connection with the sale of stocks when Girgis was associated with Legend Securities Inc.
On September 15, 2017, another FINRA securities arbitration claim involving Girgis’ conduct was settled for $65,000.00 in damages based upon allegations that Girgis misappropriated funds and made misrepresentations of material fact in connection with the sale of investments when Girgis was associated with Joseph Gunnar Co. LLC. FINRA Arbitration No. 16-01201.
Girgis is also referenced in a FINRA securities arbitration claim in which the customer requested $1,284,892.10 in damages based upon allegations that Girgis churned accounts, charged excessive commissions, engaged in unauthorized trading, made unsuitable recommendations, was negligent, breached a contract, and committed fraud when Girgis was associated with Worden Capital Management LLC. FINRA Arbitration No. 22-00347 (March 21, 2022).
On December 1, 2021, Girgis was fined $7,500.00 and suspended for nine months from associating with any FINRA member in any capacity because Girgis engaged in excessive and unsuitable trading in four customer accounts. Letter of Acceptance, Waiver, and Consent No. 2017056432607. According to the AWC, Girgis’ trading at Worden Capital Management and Legend Securities led customers to realize $224,573.00 in losses. Those customers paid $199,622.00 in trading costs, the majority of which consisted of commissions. The regulator determined that Girgis’ trading was not warranted because of the customers’ investment profiles. He violated FINRA Rules 2010 and 2111.
On June 6, 2022, Girgis was barred as a stockbroker and in other capacities in the state of Illinois because Girgis was sanctioned by FINRA. Stipulation and Consent Order, Case No. 2200026.
Girgis was associated with SW Financial in New York, New York, as a stockbroker from December of 2019 to September of 2022, and was associated with Worden Capital Management LLC in New York, New York, as a stockbroker from November of 2016 to December of 2019.
