WARNING! Peter Neary from Plymouth, Michigan
Have you lost money with financial advisor Peter Neary of Plymouth, Michigan? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Peter J. Neary, Jr. FINRA suspended Neary for 20 days regarding allegations that he exercised discretionary power in an account without prior written authorization.
According to FINRA’s allegations, Peter Neary effected approximately 130 to 140 discretionary transactions (selling or purchasing securities without the client’s prior permission) between July 2012 and December 2014. His brokerage firm, Wunderlich Securities, requires that brokers obtain prior written authorization to execute trades on a discretionary basis, and Neary failed to do so. To settle these allegations, Neary agreed to pay a $5,000 fine and agreed to a 20-day suspension.
Peter Neary was a financial advisor and registered representative of Wunderlich Securities from October 2010 to January 2015. He also is affiliated with IFS Securities from February 2015 to the present. He worked at branch offices in Plymouth and Livonia, Michigan. According to FINRA’s Brokercheck, Neary is the subject of one customer complaint, alleging unauthorized trading. Neary was terminated by Wunderlich in January 2015 for allegations of excessive and unauthorized trading. He was also terminated by Comerica Securities in 2005.
Brokerage firms like Wunderlich Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Ann Arbor, Michigan; Chicago; Denver; and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Michigan. Attorney Aaron Israels is licensed to practice law in Michigan, he grew up in Holland, Michigan and also lived for many years in the Detroit area. We also currently represent a number of victims who had their money stolen by other Michigan brokers, including Christopher Tolmacs. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Neary, Peter FINRA AWC
Click to view: Neary, Peter BrokerCheck 11.4.16
HAVE YOU LOST MONEY WITH PETER NEARY OR WUNDERLICH SECURITIES?
CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION
Aaron Israels: (720) 599-3505
David Neuman: (206) 795-5798
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.