Erik Pica-Joseph Stone Capital Broker-Discloses Customer Disputes & FINRA Investigation- New York, NY

October 2019 – New York, New York

The FINRA records of Erik Patrick Pica  , a  stockbroker who is employed by Joseph Stone Capital disclose 3 pending customer dispute, 4 prior customer disputes and a currently pending FINRA investigation.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In May of 2018,  a customer Global Arena Capital Corp. was paid $30,000 to resolve allegations of negligent supervision, over-concentration and suitability in  FINRA Case 18-01555.

In December of 2011, a customer of First Midwest Securities, Inc.  was paid $4,999 to resolve allegations that Pica owned the ETF he was recommending the customer to purchase.

In pending FINRA case 18-01506 a customer of Joseph Stone Capital alleges that Pica made unauthorized trades in the account with alleged damages of $7,600.

In pending customer dispute filed by a Joseph Stone Capital customer, alleges unsuitable securities, highly speculative recommendations, churning and negligent supervision and seeks damages of $500,000.

Pending FINRA case 17-01681, filed by a Joseph Stone Capital customer, alleges failure to treat claimant in a a just and equitable manner; breach of fiduciary duty; breach of contract; negligence and negligent misrepresentation and seeks damages of $120,000.

In July 2019, FINRA initiated Investigation Matter #20190619475 alleging that Pica made various violations of FINRA rules, including wrongfully taking customer funds and providing false and misleading information to his firm as well as FINRA staff. The matter is currently pending.

Pica is currently employed with Joseph Stone Capital.   From January of 2012 until April of 2015, he was employed by Global Arena Capital Corp.,  before that he was employed with First Midwest Securities, Inc., Chicago Investment Group and Eastbrook Capital Group, all in New York City.

If you have problems in an account  handled by Erik Patrick Pica  call for a no charge consultation .

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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