James Robert Pecoraro, of Melville, New York, a stockbroker formerly registered with Rockwell Global Capital LLC, is the subject of a customer initiated investment related arbitration claim, which settled on July 10, 2017, for $13,500.00 in damages based upon allegations that Pecoraro breached his contractual and fiduciary obligations to the customer, and negligently traded the customer’s equity portfolio.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Pecoraro has been identified in eight more customer initiated investment related disputes containing allegations of his wrongdoing while he was associated with Harrison Securities, Inc., and J.P. Turner & Company LLC. In particular, on September 28, 2003, a customer initiated investment related written complaint involving Pecoraro’s activities was settled for $50,000.00 in damages based upon allegations that Pecoraro effected unauthorized equity trades in the customer’s account.
On January 31, 2004, another customer initiated investment related written complaint regarding Pecoraro’s activities was resolved for $9,999.00 in damages, where the customer’s claim was founded upon allegations that Pecoraro failed to appropriately administer the customer’s over-the-counter equities portfolio. Subsequently, on June 27, 2005, a customer was awarded $235,735.00 in damages according to an investment related arbitration claim involving Pecoraro’s wrongdoing, based upon allegations that he utilized the customer’s margin inappropriately, generated excessive fees, and effected over-the-counter equities transactions in the customer’s account without consent.
Further, on June 26, 2009, a customer initiated investment related written complaint involving Pecoraro’s conduct was settled for $55,000.00 in damages based upon allegations that Pecoraro breached his fiduciary duties to the customer, churned the customer’s investment portfolio, effected transactions in the customer’s account that neither suitable nor authorized, and ultimately defrauded the customer in reference to the customer’s equities investments.
FINRA Public Disclosure also reveals that Pecoraro has been identified in five regulatory actions pertaining to his misconduct. Particularly, he was suspended from conducting securities business in the State of Colorado according to a Colorado Division of Securities Order containing findings that Pecoraro, inter alia, committed securities fraud. Order No. 11-L-12 (Dec. 16, 2010). He was also fined $10,000.00 and suspended from associating with any FINRA member in any capacity based upon consenting to findings that he engaged in excessive and unsuitable trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 20080131878-01 (Aug. 27, 2010). FINRA found Pecoraro’s conduct to be violative of NASD Conduct Rules 2110 and 2310.
Pecoraro has been registered with SW Financial since September 14, 2016. Since July 30, 1999, he has been associated with nine different broker dealers, five of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach
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