Peter N. Girgis of New York New York a stockbroker currently registered with SW Financial is referenced in a Financial Industry Regulatory Authority (FINRA) investigation on September 15, 2020 where Girgis may face disciplinary action from FINRA Department of Enforcement based on accusations of unsuitability and excessive trading by the stockbroker.
According to FINRA Public Disclosure, Girgis possibly provided customers with unsuitable advice as it pertained to an active trading strategy. The stockbroker also possibly executed excessive trades in customer accounts. The regulator made an initial determination to advise Department of Enforcement to pursue disciplinary action against Girgis for violating FINRA Rules 2010 and 2111.
Girgis has been sanctioned by FINRA on two prior occasions. He has been fined $5,000.00 and suspended for three months from associating with any FINRA member founded on findings that Girgis concealed liens or judgments from his record in violation of FNIRA Rules 2010 and 1122. Girgis was also fined $5,000.00 and suspended by FINRA for 45 days based upon findings of Girgis making use of a customer’s private information which included his dissemination of a customer’s account information including holdings at Joseph Gunnar Co. Girgis violated Securities Exchange Act of 1934.
Girgis has been identified in six customer initiated investment related disputes containing accusations of his misconduct during the time that he was registered with securities broker dealers including Legend Securities, Joseph Gunnar, JP Turner Company and Brookstone Securities. FINRA Public Disclosure reveals that a customer filed an investment related complaint concerning Girgis’s conduct in which the customer sought $16,512.80 in damages supported by allegations of unauthorized trading in the customer’s account while Girgis was associated with JP Turner.
Girgis is also the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $75,000.00 in damages founded on accusations that the customer was sold unsuitable and misrepresented over-the-counter equities at JP Turner. According to the claim, there was a breach of fiduciary duty by Girgis. The claim also alleges that trades were unauthorized and excessive and that the customer had been defrauded because of Girgis’s actions.
Another customer filed an investment related complaint involving Girgis’s activities where the customer requested $600,000.00 in damages based upon allegations that the customer had been provided with altered account documents from Girgis as it pertained to the customer’s assets at Joseph Gunnar.
Girgis is also referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $9,999.00 in damages supported by accusations that the customer’s account was churned and that a contract between the customer and the securities broker dealer had been breached. FINRA Arbitration No. 15-03051 (May 26, 2016). According to the claim, the customer was placed into unsuitable stock and over-the-counter equities because of the stockbroker. The claim also alleges negligence and fraud as it pertained to the customer’s investment portfolio.
Girgis is the subject of another customer initiated investment related written complaint which was settled for $4,999.00 on March 22, 2017 founded on allegations of churning of the customer’s equity portfolio and excessive charges on Girgis’s trades at Legend Securities.
Another customer initiated investment related FINRA securities arbitration claim regarding Girgis’s conduct was resolved for $65,000.00 in damages based upon accusations including breach of contract and misrepresentation pertaining to the customer’s stock holdings at Joseph Gunnar. FINRA Arbitration No. 16-01201 (Sept. 15, 2017). The claim indicates that Girgis’s negligence and unauthorized transactions had resulted in damages. Girgis allegedly misappropriated the customer’s funds too.
Girgis has also been registered with Worden Capital Management between November 4, 2016 and December 10, 2019. He has been registered with SW Financial since December 10, 2019.