Douglas Joseph Guarino, of Melville, New York, a stockbroker formerly registered with Rockwell Global Capital LLC, has been named in a customer initiated investment related arbitration claim on June 25, 2015, in which the customer requested $205,000.00 in damages based upon allegations of the firm’s failure to supervise Guarino’s activities involving equity transactions effected in the customer’s account.

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Guarino has been identified in twelve additional customer initiated investment related disputes containing allegations of his misconduct while employed with Investec Ernst & Company, and Rockwell Global Capital LLC. In particular, between July 7, 2003, and September 30, 2004, four customer initiated investment related disputes were settled for a total of $131,500.00 in damages based upon allegations against Guarino including breach of contract, unsuitability, unauthorized trading, negligence, churning, excessive trading, and the over-concentration of customers’ assets in unstable equity sectors.

Subsequently, on July 14, 2011, a customer initiated investment related arbitration claim regarding Guarino’s activities was resolved for $157,500.00 in damages, supported by allegations that Guarino churned the customer’s investment portfolio of options and equities. The customer further alleged that Rockwell Global Capital, LLC, failed to supervise Guarino’s sales practices.

Moreover, on January 16, 2013, a customer initiated investment related arbitration claim involving Guarino’s conduct was settled for $20,000.00 in damages based upon allegations that he breached his fiduciary obligations to the customer, and did not adequately conduct due diligence regarding private placements. Further, on October 7, 2013, a customer initiated investment related arbitration claim regarding Guarino’s activities was resolved for $150,000.00 in damages supported by allegations that Guarino effected stock transactions in the customer’s investment account on an excessive and unsuitable basis.

Furthermore, on June 5, 2014, a customer initiated investment related arbitration claim involving Guarino’s conduct was settled for $27,500.00 in damages based upon allegations that he negligently managed the customer’s investments, effected unauthorized transactions in the customer’s account, and excessively traded over-the-counter equities and exchange traded funds in the customer’s investment account. Between April 23, 2014, and June 20, 2014, two more investment related complaints were pursued by customers, wherein they requested a total of $255,952.00 in damages based upon allegations against Guarino of excessive commissions, negligence, excessive trading, and fraud.

Since February 23, 1988, Guarino has been associated with ten different broker dealers, eight of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach

Guiliano Law Group

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