Robert Anthony Guidicipietro (also known as Robert Peters), of Bay Ridge, New York, a stockbroker registered with Arive Capital Markets, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Guidicipietro failed to comply with an arbitration award or settlement agreement or otherwise confirm his compliance. FINRA Case No. 20220750833 (June 16, 2022).
Public Disclosure shows that Guidicipietro has been fined $5,000 and suspended for four months by FINRA because Guidicipietro engaged in excessive trading. Letter of Acceptance, Waiver, and Consent No. 2020068312201 (November 29, 2021).
According to the AWC, between January of 2019 and November of 2019, while registered through Arive, Guidicipietro engaged in unsuitable and excessive trading, including margin use, in Customer A’s account. FINRA indicated that Customer A was a retired, seventy-eighty-year-old when he established his investment account at Arive, and that Customer A was a cautious investor who had limited knowledge about investing.
FINRA found that Guidicipietro advised Customer A to make 56 trades, all using margin, in his account. Customer A took Guidicipietro’s advice. The trades recommended by Guidicipietro caused Customer A to pay $35,219.74 in fees and commissions and resulted in a cost-to-equity ratio exceeding 34 percent. This meant that the customer’s investments needed to increase by more than 34 percent just for the account to break even. Despite Customer A’s account having an average equity of about $140,000.00, Guidicipietro recommended $1,120,000.00 in purchases, resulting in a turnover rate exceeding 8. As a consequence of Guidicipietro’s inappropriate advice, Customer A suffered $35,000 in losses.
FINRA found that Guidicipietro violated FINRA Rules 2111 and 2010.
Public Disclosure shows eleven disclosable events.
Guidicipietro is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $14,999.00 in damages based upon allegations that Guidicipietro breached his fiduciary duties, made misrepresentations of material fact, made unsuitable recommendations, and committed fraud in connection with the sale of investments when Guidicipietro was registered with Aegis Capital Corp. FINRA Arbitration No. 17-00477 (September 25, 2017).
On September 6, 2018, an Aegis Capital Corp. customer initiated investment related complaint involving Guidicipietro’s conduct was settled for $36,272.00 in damages based upon allegations that Guidicipietro failed to follow instructions concerning a stop loss order.
Guidicipietro was registered with Arive Capital Markets as a stockbroker between December 12, 2018, and January 3, 2020. He was registered with Alexander Capital LP as a stockbroker between January 3, 2020, and April 6, 2022.
