Peter Ianace Investigation-Plano, TX
The FINRA records of Peter Ianace , a former financial advisor who was last employed by Wells Fargo Clearing Services, disclose a regulatory event and three customer disputes.
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 September of 2020 after FINRA case#2020065477101 was filed, without admitting or denying the findings, Ianace consented to the sanction and to the entry of findings that he refused to provide documents and information requested by FINRA in connection with its investigation into his potential failure to disclose outside business activities to his member firm. The findings stated that although Ianace initially cooperated with FINRA’s investigation, he ceased in doing so. The sanctions ordered was that Ianace was permanently barred in all capacities from FINRA.
In December of 2003 NASD-DR case #04-02905 alleged negligence, gross negligence, breach of industry standards; breach of contract of fiduciary duty and other claims. The cases settled for $60,000 with $30,000 paid by Ianace personally.
In January of 2021, in FINRA case #21-00172, a customer of his former employer, Merrill Lynch, alleges unsuitable investment recommendations and misrepresentations from 2/ 2013 until 12/2019 and seeks damages of $18,000,000. The case is currently pending.
In 8/2020, in FINRA case #20-02353, a customer of Wells Fargo alleges that Ianace made unsuitable recommendations and neglected to reduce the over-concentrated and over-leveraged nature of their accounts and is seeking damages in excess of $13,000,000. This case is currently pending.
Peter Ianace was with Wells Fargo Clearing Service from 12/2019-until June 2020. He was registered with Bank of America, Merrill Lynch, Pierce, Fenner & Smith and Morgan Stanley Smith Barney before that time.
If you have losses in an account handled by Peter Ianace contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
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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