Robert Francis Stefanelli of New York New York a stockbroker currently associated with Alexander Capital LP has been referenced in a customer initiated investment related arbitration claim which has been settled for $14,900.00 in damages supported by allegations that (1) common and preferred stock transactions that were facilitated in the customer’s account by the stockbroker failed to be suitable because of the customer’s investment circumstances (2) transactions were effected in the customer’s account in an excessive manner and (3) the customer’s investment portfolio had been churned by Stefanelli during the time that he was employed by Alexander Capital. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01435 (July 31, 2019).
FINRA Public Disclosure confirms that Stefanelli has been identified in three more customer initiated investment related disputes concerning accusations of Stefanelli’s misconduct during the time that he was employed by securities broker dealers which include JP Turner Company, Alexander Capital, and Legend Securities Inc. In particular, a customer initiated investment related complaint concerning Stefanelli’s activities was settled to resolve accusations that when Stefanelli was employed by JP Turner, common stock purchases had been executed without the customer’s permission.
Another customer initiated investment related arbitration claim in reference to Stefanelli’s conduct has been resolved for $10,000.00 in damages based upon accusations that when Stefanelli was associated with JP Turner, the customer’s account was administered with poor care, and over the counter equity transactions were unsuitable given the customer’s investment profile. Stefanelli is also referenced in a customer initiated investment related arbitration claim which was settled for $14,900.00 in damages based upon allegations that margin was inappropriately utilized by the stockbroker to effect securities transactions in the customer’s account, and over the counter equities trades were effected on an excessive basis when Stefanelli was associated with Legend Securities and Alexander Capital. FINRA Arbitration No. 16-03517 (Jan. 25, 2017).
FINRA Public Disclosure confirms that Stefanelli has been ordered by Arkansas Securities Department to cease and desist from violating securities laws or regulations founded on accusations that the stockbroker offered or sold securities without having been registered as a stockbroker and without registering the investments in the State of Arkansas, and he made false or misleading statements in regard to the terms and conditions of investments which he sold when associated with JP Turner. Regulatory Action No. 98-45-S.
Stefanelli has been associated with Alexander Capital since May 4, 2012.
