Articles Tagged with Illinois Stockbroker Misconduct Lawyer

Paul William Petrillo of Volo, Illinois submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) for alleged misconduct. While serving as a General Securities Representative for Thrivent Investment Management, FINRA alleged Paul Petrillo made at least 333 discretionary orders to buy or sell in customers’ accounts without his firm’s knowledge. This conduct is in violation of NASD Rule 3050 and FINRA Rule 2010.  Furthermore, FINRA alleged that Petrillo participated in 14 private securities transactions in customer accounts without his firm’s knowledge in violation of FINRA Conduct Rule 3280. Finally, while FINRA was conducting its investigation, Paul Petrillo was questioned to identify the customers he had done the trades with but failed to do so by providing false responses. Without admitting or denying the FINRA findings, Paul Petrillo agreed to be barred from association with any FINRA member in any capacity. Continue Reading

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