Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating claims that advisor Peter Ianace (Ianace) has been accused by The Financial Industry Regulatory Authority (FINRA) of engaging in undisclosed outside business activities (OBAs). According to records kept by FINRA Ianace was employed by Wells Fargo Clearing Services, LLC (Wells Fargo) and Merrill Lynch Pierce, Fenner & Smith Incorporated (Merrill Lynch) through June 2020 when he abruptly resigned when he refused to cooperate in FINRA’s investigation over these allegations. If you have been a victim of Ianace’s alleged misconduct our firm may be able to assist you in recovering funds.
According to FINRA, the regulatory barred Ianace after he consented to the sanction 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 (OBAs) to his member firm.
Ianace’s BrokerCheck also reveals four customer complaints. The most recent allegation in January 2021 alleges unsuitable investment recommendations and misrepresentations from February 2013 until December 2019 and claims $18 million in damages. The claim is currently pending.