{"id":2791,"date":"2016-03-16T00:00:00","date_gmt":"2016-03-16T04:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/new-york-broker-patrick-teutonico-investigation\/"},"modified":"2018-10-08T12:39:39","modified_gmt":"2018-10-08T16:39:39","slug":"new-york-broker-patrick-teutonico-investigation","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/new-york-broker-patrick-teutonico-investigation\/","title":{"rendered":"New York Broker Patrick Teutonico Under Investigation"},"content":{"rendered":"<\/p>\n<p>According to the <a href=\"https:\/\/www.finra.org\"  target=\"_blank\">Financial Industry Regulatory Authority<\/a> (FINRA) <a href=\"https:\/\/brokercheck.finra.org\/\"  target=\"_blank\">BrokerCheck website<\/a>, a customer filed a complaint against <a href=\"https:\/\/brokercheck.finra.org\/individual\/2875434\"  target=\"_blank\">Teutonico (CRD# 2875434)<\/a> on November 23, 2015 for <a href=\"https:\/\/www.silverlaw.com\/excessive-trading-churning.html\"  target=\"_blank\">excessive trading<\/a>. This is the eleventh disclosure on his checkered broker report and the fifth in the last year.\u00a0 Teutonico has been employed by Network 1 Financial Securities, Inc. since December 2012.<\/p>\n<p>Silver law group <a href=\"https:\/\/www.silverlaw.com\/blog\/broker-focus-patrick-teutonico-in-the-spotlight-for-unauthorized-transactions\/\" target=\"_blank\">previously covered Teutonico\u2019s checkered broker report and the ramifications of a report littered with disclosures<\/a>. On March 27, 2015, Teutonico, without admitting or denying the findings, consented to sanctions in the amount of $5,000 and a suspension totaling 15 business days for failing to observe the high standards of commercial honor and just and equitable principles of trade in violation of FINRA Rule 2010.<\/p>\n<p>Teutonico\u2019s other FINRA report disclosures indicate multiple clients alleging he churned their accounts \u2013 meaning he allegedly made excessive trades in client accounts to generate commissions. Additionally, the disclosures allege that he made <a href=\"https:\/\/www.silverlaw.com\/securities-arbitration\/finra-sales-practice-violations\/unsuitable-investment-advice\/\"  target=\"_blank\">unsuitable<\/a> and <a href=\"https:\/\/www.silverlaw.com\/securities-violation-unauthorized-transactions.html\"  target=\"_blank\">unauthorized transactions<\/a>, abused commissions, <a href=\"https:\/\/www.silverlaw.com\/breach-of-fiduciary-duty.html\"  target=\"_blank\">breached his fiduciary duty<\/a>, executed excessive markup\/markdowns and committed possible fraud, all totaling more than $650,000 in requested damages.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.silverlaw.com\/blog\/new-york-broker-patrick-teutonico-investigation\/\"  title=\"Continue Reading New York Broker Patrick Teutonico Under Investigation\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to the Financial Industry Regulatory Authority (FINRA) BrokerCheck website, a customer filed a complaint against Teutonico (CRD# 2875434) on November 23, 2015 for excessive trading. This is the eleventh disclosure on his checkered broker report and the fifth in the last year.\u00a0 Teutonico has been employed by Network 1 Financial Securities, Inc. since December [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[578,580],"tags":[],"class_list":["post-2791","post","type-post","status-publish","format-standard","hentry","category-all-releases","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New York Broker Patrick Teutonico Under Investigation &#8212; Securities Arbitration Lawyers Blog &#8212; March 16, 2016<\/title>\n<meta name=\"description\" content=\"If invested with Patrick Teutonico and believe you have been the victim of investment fraud, contact Silver Law Group today to discuss your options\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/new-york-broker-patrick-teutonico-investigation\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"New York Broker Patrick Teutonico Under Investigation &#8212; 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