Robert Frederick Genito, of Bonita Springs, Florida, a stockbroker formerly registered with PFS Investments Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $90,000.00 in damages based upon allegations of Genito failing to pay on a promissory note that he issued to the customer relating to Genito’s outside business. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00058 (January 11, 2021).
Genito has been identified in two more customer initiated investment related disputes containing accusations of his wrongdoing. FINRA Public Disclosure shows that a customer initiated investment related FINRA securities arbitration claim concerning Genito’s activities was settled for $15,000.00 in damages supported by allegations that the customer was placed into an unsuitable variable annuity because of Genito during the time that he was registered with PFS Investments.
On August 31, 2020, another customer filed an investment related FINRA securities arbitration claim involving Genito’s conduct where the customer sought $100,000.00 in damages founded on accusations of Genito defaulting on a promissory note issued to the customer. FINRA Arbitration No. 20-02826.
Genito has been barred from associating with any FINRA member in any capacity based upon findings that he failed to cooperate with a FINRA investigation relating to his alleged outside business activities while registered with PFS Investments. Letter of Acceptance, Waiver, and Consent No. 2019061049701 (November 22, 2019).
According to the AWC, Genito was investigated because of the notification FINRA received from PFS Investments about his employment termination. The securities broker dealer contends that Genito was discharged on December 14, 2018, supported by allegations that he participated in a private securities transaction or outside business activity. Genito did not cooperate with FINRA’s October 29, 2019 request for his testimony. He emailed FINRA on November 11, 2019, indicating that he would not testify. Genito violated FINRA Rules 2010 and 8210.
Genito was registered with PFS Investments between April 2, 2004, and December 27, 2018.
