Securities Arbitration Lawyers BlogFINRA Bars Richard Minichino
Richard Vincent Minichino II (CRD#: 5760826) is a former registered broker and investment advisor whose last employer was Next Financial Group, Inc. (CRD#:46214) of New York, NY. His previous employers include Wunderlich Securities, Inc. (CRD#:2543), also of New York, J.P. Morgan Securities LLC (CRD#:79) of Peekskill, NY, and Chase Investment Services Corp. (CRD#:25574) of Yorktown Heights, NY. He has been in the industry since 2010.
Minichino was the subject of two FINRA actions that ultimately led to his bar from working as a broker. The first was filed on 6/25/2018, in response to his failure to comply with an arbitration award and/or settlement agreement. He was suspended effective 9/13/2018 indefinitely, until the amount due is paid (which is not listed.)
FINRA then sent two notices of suspension to Minichino, on 9/17/2018 and 10/11/2018. After failing to comply with a FINRA request for information and did not request a termination of his suspension, Minichino was then barred indefinitely effective 12/20/2018.
On 4/17/2018, a customer filed a dispute with the allegations that “in April 2017 registered representative advised to rollover several annuity IRAs into other investments and at no time was advised of the tax rule that allows only one rollover per tax year.” The customer requested damages of $70,000, and the claim was settled for $56,671.00.
Minichino was terminated by Next Financial Group on 2/1/2018. He was the subject of an internal review that uncovered allegations that he made trades that appeared unsuitable in a customer’s account.
In 2017, Minichino had four separate tax liens levied against him, for a total of $86,692.02. No other information is available, and they appear to be outstanding liens.
Did You Invest Money With Richard Vincent Minichino Or Next Financial?
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. Our attorneys have represented investors in securities arbitration claims against Next Financial. 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.