In the Matter of Pecoraro

Pecoraro, along with others, allegedly defrauded customers by engaging in widespread churning. Pecoraro allegedly violated Section 10(b) of the Exchange Act and Exchange Act Rule 10b-5 by churning customer accounts. Pecoraro allegedly recommended trading that was excessive and quantitatively unsuitable. Pecoraro allegedly violated Reg BI by failing to act in the best interest of the customers. Pecoraro, along with others, failed to exercise reasonable diligence, care, and skill.

Summary generated from official Financial Industry Regulatory Authority press release