Peter Scott Izzo of New York, New York, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated, was the subject of a customer initiated investment related complaint that was settled on December 16, 2020, for $45,000.00 in damages based on allegations that Izzo made unsuitable investment recommendations to the customer when Izzo was associated with Merrill Lynch Pierce Fenner Smith Incorporated.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Izzo is referenced in three other customer initiated investment related disputes concerning Izzo’s conduct while associated with securities broker dealers. On March 5, 2004, a customer initiated investment related NYSE securities arbitration claim involving Izzo’s conduct was settled for $70,000.00 in damages based on allegations that Izzo made unsuitable recommendations and engaged in unauthorized and excessive trading in over-the-counter equities in the customer’s account during the time that Izzo was associated with Merrill Lynch Pierce Fenner Smith Incorporated. NYSE Arbitration No. 2002-010978. The claim also alleged margin misuse by the stockbroker.
On October 14, 2004, a customer initiated an investment related NASD securities arbitration claim involving Izzo’s conduct, which was settled for $12,000.00 in damages. The claim alleged that Izzo provided unsuitable advice about over-the-counter equities and mutual funds and failed to explain margin risks to the customer. NASD Arbitration No. 03-07258.
Izzo was also referenced in a customer complaint that was settled on April 13, 2009, for $2,675,000.00 in damages. The complaint was based on allegations that Izzo engaged in unauthorized trading and made misrepresentations of material fact regarding the liquidity of auction rate securities.
Izzo has been associated with Merrill Lynch Pierce Fenner Smith Incorporated in New York, New York, as a stockbroker since November 28, 1997. Izzo has been associated with Merrill Lynch Pierce Fenner Smith Incorporated in Rumson, New Jersey, as an investment advisor representative since January 27, 2007.
