Robert Wade LaPietra of New York New York a former stockbroker and investment adviser representative of Aegis Capital Corp is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $80,000.00 in damages founded on accusations that an unsuitable investment strategy had been used by the stockbroker during the period that he was associated with Aegis Capital Corp. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02183 (May 15, 2020).
This is not the first time that LaPietra has been accused of improper sales practices by a customer of a securities broker dealer. FINRA Public Disclosure confirms that a customer filed an investment related FINRA securities arbitration claim regarding LaPietra’s conduct where the customer requested $750,000.00 in damages supported by allegations that unauthorized trades were executed in the customer’s Aegis Capital Corp account and that options and over-the-counter equities recommendations were not suitable.
LaPietra’s stockbroker and investment adviser representative registrations with Aegis Capital Corp have been terminated as of October 20, 2017. Since November 9, 2017, he has been registered as a stockbroker and investment adviser representative of Merrill Lynch Pierce Fenner Smith Inc.