James Gerard Sparacino of Woodbury New Jersey is a stockbroker currently registered with Trident Partners Ltd. who is the subject of a customer initiated investment related arbitration claim where the customer sought $40,489.00 in damages supported by accusations that stock transactions were placed in the customer’s account that were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02710 (Oct. 10, 2017).
FINRA Public Disclosure reveals that Sparacino has been identified in two additional customer initiated investment related disputes containing allegations of Sparacino’s misconduct during the time he was registered with Merrimac Corporate Securities, Inc. and Tasin & Company, Inc. Specifically, a customer was awarded $222,533.98 in compensatory damages according to an arbitration claim regarding Sparacino’s activities in which Sparacino was found liable for negligence and unauthorized trading in the customer’s equity portfolio. National Association of Securities Dealers (NASD) Arbitration No. 06-02264 (Apr. 10, 2007).
Thereafter, a customer initiated investment related arbitration claim pertaining to Sparacino’s activities was settled for $12,000.00 in damages founded on accusations that Sparacino executed equity transactions in the customer’s account that were neither suitable for the customer nor authorized by the customer, wherein Sparacino accumulated excessive commissions from the customer in the process. FINRA Arbitration No. 16-01128 (Nov. 11, 2016). The customer additionally alleged that fiduciary duties owed to the customer had been breached and that Merrimac Corporate Securities, Inc. failed to supervise Sparacino’s activities in the customer’s account.
Since January 23, 1996, Sparacino has been associated with ten different broker dealers, four of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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