Donald John Saccomano, of Westport, Connecticut, a stockbroker formerly registered with Source Capital Group, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to communicate with FINRA’s staff regarding his business activities. Case No. 2015044109301 (Mar. 31, 2017).
On January 7, 2015, Saccomano became subject of a FINRA investigation into allegations of his failure to supervise, investment related misrepresentations and unsuitable limited partnership interests, direct participation programs and municipal debt transactions effected in a customer account during the time he was associated with Source Capital Group, Inc.
Moreover, on August 19, 2008, a customer initiated investment related written complaint involving Saccomano’s conduct was settled for $51,000.00 in damages based upon allegations that Saccomano, while associated with Janney Montgomery Scott LLC, effected corporate debt trades in the customer’s account without the customer’s consent.
Saccomano’s registration with Source Capital Group, Inc. was terminated on October 14, 2016.
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