Category Archives: Alexander Capital

Alexander Capital Sanctioned For Allowing Brokers to Churn Brokerage Accounts

JULY 2018

The Securities and Exchange Commission (SEC) charged Alexander Capital and two of its managers for failing to supervise three of the company’s brokers who churned customer accounts, made trades without permission and made unsuitable recommendations to the customers.

The three brokers William C. Gennity, Rocco Roveccio and Laurence M. Torres had previously been charged with fraud in September 2017. The SEC found that Alexander Capital lacked reasonable supervisory policies and procedures designed to prevent such abuses to customers.

Alexander Capital agreed to be censured and paid ill-gotten gains, interest and penalties of more than $400,000.

The managers, Philip A. Noto II and Barry T. Eisenberg ignored red flags indicating excessive trading by the brokers.

Link to SEC press release.

If you have questions about how your account at Alexander Capital has been handled, call for a no charge consultation with an experienced securities attorney to learn how you may be able to recover damages through 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Rocco Guidicipietro-Alexander Capital Broker-Discloses Pending Regulatory Matter and Settlement of Customer Disputes-New York

April 2018- New York

According to FINRA records,  Rocco G. Guidicipietro (aka Rocco Peters)  discloses a pending regulatory matter, a prior regulatory matter and  three settled 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 12/2016 securities regulators from the State of Montana filed an action in which they seek civil and administrative penalties and fines, restitution and revocation of Guidicipietro’s licensing in that state for failure to supervise. That matter is currently pending.

The settled customer disputes include:

  • FINRA Case 14-3184- a customer while Guidicipietro was registered with J.P. Turner & Co. alleged damages of $1,500,000 for churning, unsuitable investments, common law fraud, breach of fiduciary duty and breach of contract. That case was settled for $450,000.
  • FINRA Case 11-02452- a customer while Guidicipietro was registered with J.P. Turner & Co. alleged damages of $803,637 for failure to supervise. That case was settled for $635,000.

According to FINRA records,Guidicipietro  has been  registered with Alexander Capital since 2/2012.  He was previously registered with Legend Securities from 9/2010-2/2012 and with J.P. Turner from 9/1998-9/2010.

If you have losses in an account handled by Rocco G. Guidicipietro (Rocco Peters)  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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Florence Simeon-Former Alexander Capital Stockbroker-Discloses Termination from Employment for Document Alteration-New York

April 2018- New York

According to FINRA records,  Florence M. Simeon , who is currently employed by Sunstreet Securities, discloses that on April 27, 2016, she was ‘permitted to resign’ from Alexander Capital. Her employing firm, Alexander Capital alleged that Simeon was suspected of falsifying customer account documents.

On 7/11/2016 Alexander Capital concluded that “Ms. Simeon submitted improperly dated documents that were not approved by client”.

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.

 SImeon  was  registered with Alexander Capital from 8/2015-4/2016.  She was previously registered with  J.P. Turner from 1/2011-8/2015 and prior to that with Hallmark Investments from 8/2006-12/2010.

If you have questions about an account handled by Florence M. Simeon  contact us for a no charge consultation to discuss your options and to learn how you may be able to recover damages for account losses 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870