Peter Frederick Reinecke, of Saint Louis, Missouri, a stockbroker registered with Saxony Securities Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $13,000,000.00 in damages based upon allegations that Reinecke made the unsuitable investment recommendation of speculative and risky private placement investments, was negligent, and committed fraud when Reinecke was associated with Saxony Securities Inc. FINRA Arbitration No. 23-03646 (January 4, 2024).
This is not the first time that Reinecke has been referenced in a customer initiated investment related dispute concerning Reinecke’s conduct in the securities industry. FINRA Public Disclosure shows that Reinecke was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $495,000.00 in damages based upon allegations that Reinecke borrowed customer funds, overconcentrated accounts in illiquid and speculative private companies, and made omissions and misrepresentations when Reinecke was associated with LPL Financial LLC and Saxony Securities Inc. FINRA Arbitration No. 22-00613 (November 29, 2022).
Reinecke was associated with Saxony Securities Inc. in Saint Louis, Missouri from September 10, 2012 to December 31, 2022.
