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FINRA Bars Peter Ianace After Concealing Outside Business Activities

Peter Ianace (Peter Vincent Ianace CRD#: 3238078) is a formerly registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Plano, TX. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Frisco, TX, Morgan Stanley Smith Barney (CRD#:149777) and Morgan Stanley & Co. Incorporated (CRD#:8209), both of Plano, TX. He has been in the industry since 1999. Ianace is the subject of two current customer disputes, filed on 8/7/2020 and 8/24/2020, with similar allegations of unsuitable recommendations. One client also alleges that Ianace “neglected to reduce the over-concentrated and over-leveraged nature of their accounts.” Both disputes are currently listed as “pending.” FINRA began an investigation into Ianace’s business activities outside of his firm after he failed to report them. Ianace initially cooperated with the investigation, but stopped in August of 2020. After declaring to FINRA staff that he would not provide any further assistance or documentation, FINRA issued an Acceptance, Waiver & Consent (AWC) which Ianace signed.Peter Ianace (Peter Vincent Ianace CRD#: 3238078) is a formerly registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Plano, TX. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Frisco, TX, Morgan Stanley Smith Barney (CRD#:149777) and Morgan Stanley & Co. Incorporated (CRD#:8209), both of Plano, TX. He has been in the industry since 1999.

Ianace is the subject of two current customer disputes, filed on 8/7/2020 and 8/24/2020, with similar allegations of unsuitable recommendations. One client also alleges that Ianace “neglected to reduce the over-concentrated and over-leveraged nature of their accounts.” Both disputes are currently listed as “pending.”

FINRA began an investigation into Ianace’s business activities outside of his firm after he failed to report them. Ianace initially cooperated with the investigation, but stopped in August of 2020. After declaring to FINRA staff that he would not provide any further assistance or documentation, FINRA issued an Acceptance, Waiver & Consent (AWC) which Ianace signed.

Upon acceptance by FINRA on 9/3/2020, Ianace is barred indefinitely and in all capacities from any association with FINRA brokers.

The excessive use of margin or leverage in an account is a frequent complaint by investors against financial advisors.  Margin can be very risky but is also a major profit center for most wall street firms.  If your financial advisor improperly recommended you leverage your account or the unsuitable use of margin can be the basis for a securities arbitration claim against your financial advisor.

Securities Arbitration Lawyers

Our securities and investment fraud attorneys have handled hundreds of stockbroker misconduct cases representing investors in FINRA arbitration claims and other disputes. FINRA arbitration, commonly referred to as securities arbitration, is a way most stockbroker misconduct cases are resolved. The SEC mandates that all brokerage firms submit customer disputes to arbitration.  Customer new account agreements typically require the customer to also agree to the process.

The FINRA code of arbitration dictates the procedure which is intended to be faster and cheaper than going to court. Our attorneys have recovered millions of dollars for investors and are fully familiar with the unique language and requirements of the code of arbitration.

Our attorneys are admitted in New York and Florida and represent investors nationwide. Scott Silver, has written numerous articles on the FINRA arbitration process and frequently lectures young lawyers at conferences and law schools around the nation about the securities arbitration process. If you are looking for a FINRA arbitration attorney or believe you are the victim of securities or investment fraud, our attorneys are happy to consult with you at no cost to discuss your options.

Did You Invest Money With Peter Ianace?

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.

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