Robert Baldwin Del Guercio, of Iselin, New Jersey, a stockbroker formerly registered with UBS Financial Services Inc., was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he, inter alia, effected unauthorized securities transactions in a customer’s account. Department of Enforcement v. Robert Baldwin Del Guercio, No. 2013038393601 (June 29, 2017).
According to the Complaint, between December of 2009 and February of 2012, during which point Guercio was associated with UBS Financial Services Inc., one-hundred and seventy-five trades had been effected by him in a customer’s investment accounts despite his lack of authorization. Apparently, Guercio’s activities were neither consented to by the customer, nor approved via the firm for discretion to be exercised. Guercio was alleged by FINRA Department of Enforcement to have committed conduct violative of FINRA Rules 2010 and NASD Rule 2510(b).
FINRA Public Disclosure reveals that Guercio has been identified in ten customer initiated investment related disputes containing allegations of his misconduct while employed with Essex National Securities, Inc. and UBS Financial Services Inc. Particularly, on October 13, 2015, a customer initiated investment related arbitration claim involving his conduct was settled for $175,000.00 in damages based upon allegations that he facilitated a transfer of funds from the customer’s account without authorization.
Subsequently, on May 6, 2016, a customer filed an investment related civil action involving Guercio’s activities, in which the customer requested more than $14,500.00 in damages based upon allegations that Guercio negligently handled the customer’s wrap accounts, and breached his fiduciary and contractual duties to the customer.
Moreover, on July 21, 2016, a customer filed an investment related arbitration claim regarding Guercio’s activities during the time he was associated with Herbert J. Sims & Co, Inc., wherein the customer sought $400,000.00 in damages based upon allegations against Guercio of breach of fiduciary duty, negligence, churning, unauthorized trading, unsuitability, and fraud in reference to transactions effected in the customer’s account involving municipal and corporate debt, oil & gas and structured products.
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