Did Joseph Paul Woitkoski Cause You Investment Losses?
Joseph Paul Woitkoski of Pittsburg, Massachusetts was fined $7,500 and suspended from association with any FINRA member in all capacities for a period of 15 business days. The sanctions were based on findings that Joseph Paul Woitkoski allegedly mismarked trades and exercised discretion without authorization in violation of NASD Rule 2510(b) and FINRA Rules 4511 and 2010. The suspension was in effect from September 8, 2020, through October 19, 2020.
In 2010, Joseph Paul Woitkoski joined Raymond James and was registered as a General Securities Representative and General Securities Sales Supervisor. According to the FINRA findings, Woitkoski allegedly exercised discretionary trading in 17 accounts held by 12 customers without requesting or obtaining approval from Raymond James. The findings also stated that Woitkoski had received verbal authorization from each of the customers but never received their written authorization. In addition, the findings alleged that Woitkoski mismarked 120 trade orders and inaccurately stated he had not exercised discretionary trading on his firm’s annual compliance questionnaires.
NASD Rule 2510(b) prohibited registered representatives from “exercising any discretionary power in a customer’s account unless such customer has given prior written authorization to a stated individual or individuals and the account has been accepted by the member.”
FINRA Rule 4511 requires members to “make and preserve books and records as required under the FINRA rules, the Exchange Act and the applicable Exchange Act Rules.” Section 17(a) of the Securities Exchange Act of 1934 and Rule 17a-3 thereunder require firms to make and keep books and records including a “memorandum of each brokerage order.” A registered representative violates FINRA Rule 4511 by causing a member firm to maintain inaccurate books and records.
Do You Need A Massachusetts FINRA Securities Arbitration Lawyer?
Are you a Massachusetts investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Massachusetts stockbroker or investment advisor misrepresent facts, fail to disclose facts making the statements made false and misleading, recommend unsuitable investments or strategies, excessively trade or churn, mismanage your investment account or engage in other kinds of stockbroker misconduct? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration attorney—a lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues.
Free Initial Consultation With Experienced FINRA Securities Arbitration Lawyers Serving Massachusetts Residents In FINRA Arbitration Proceedings
At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Massachusetts, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award.
Se habla español
For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving Massachusetts citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.
Robert Wayne Pearce
Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $125 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.
Rate this Post
Loading...