{"id":3040,"date":"2015-02-03T00:00:00","date_gmt":"2015-02-03T05:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/finra-broker-phillip-john-bucaro-fined-for-selling-unapproved-annuities\/"},"modified":"2015-02-03T00:00:00","modified_gmt":"2015-02-03T05:00:00","slug":"finra-broker-phillip-john-bucaro-fined-for-selling-unapproved-annuities","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-broker-phillip-john-bucaro-fined-for-selling-unapproved-annuities\/","title":{"rendered":"FINRA Broker, Phillip John Bucaro, Fined for Selling Unapproved Annuities"},"content":{"rendered":"<p><p>Phillip John Bucaro submitted a FINRA AWC in which he was fined $7,500 and suspended from association with any FINRA member in any capacity for four months. Bucaro has been registered with The Leaders Group, Inc. since August 2012.\u00a0 Without admitting or denying the findings, Bucaro consented to the FINRA sanctions and to the entry of findings that he engaged in outside business activities by receiving approximately $203,000 in compensation for selling <a href=\"https:\/\/www.silverlaw.com\/securities-arbitration\/annuity-and-insurance-product-losses\/\" target=\"_blank\">equity-indexed annuities<\/a> (EIAs) to customers of his firm. The firm maintained an approved product list that included certain <a href=\"https:\/\/www.silverlaw.com\/securities-arbitration\/annuity-and-insurance-product-losses\/\" target=\"_blank\">EIAs<\/a> that the brokerage firm allowed its representatives to sell to customers.\u00a0 However, Bucaro sold EIAs to the firm customers that were not on the firm\u2019s approved product list. Bucaro neglected to give prior or prompt written notice of his engagement in such business activities to the firm. (<a href=\"http:\/\/disciplinaryactions.finra.org\/viewDocument.aspx?DocNb=37323\" target=\"_blank\"><strong>FINRA Case #2011028635701<\/strong><\/a>)<\/p>\n<p>Investors who have suffered losses through the sale of <a href=\"https:\/\/www.silverlaw.com\/securities-arbitration\/annuity-and-insurance-product-losses\/\" target=\"_blank\">variable annuities<\/a> and non-traded <a href=\"https:\/\/www.silverlaw.com\/securities-arbitration\/alternative-investments\/\" target=\"_blank\">REITs<\/a>may be able recover their losses through arbitration. The attorneys at <a href=\"https:\/\/www.silverlaw.com\/\" target=\"_blank\">Silver Law Group<\/a> are experienced in representing investors in cases against brokerage firms for violations of the sales of these complex or high commission products.\u00a0\u00a0 We primarily represent investors on a contingent fee basis and, in most cases, we will agree to advance any costs.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Phillip John Bucaro submitted a FINRA AWC in which he was fined $7,500 and suspended from association with any FINRA member in any capacity for four months. Bucaro has been registered with The Leaders Group, Inc. since August 2012.\u00a0 Without admitting or denying the findings, Bucaro consented to the FINRA sanctions and to the entry [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[609,585],"tags":[],"class_list":["post-3040","post","type-post","status-publish","format-standard","hentry","category-sales-practice-violations","category-variable-annuities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINRA Broker, Phillip John Bucaro, Fined for Selling Unapproved Annuities &#8212; Securities Arbitration Lawyers Blog &#8212; February 3, 2015<\/title>\n<meta name=\"description\" content=\"Phillip John Bucaro submitted a FINRA AWC in which he was fined $7,500 and suspended from association with any FINRA member in any capacity for four &#8212; February 3, 2015\" \/>\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\/finra-broker-phillip-john-bucaro-fined-for-selling-unapproved-annuities\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FINRA Broker, Phillip John Bucaro, Fined for Selling Unapproved Annuities &#8212; Securities Arbitration Lawyers Blog &#8212; February 3, 2015\" \/>\n<meta name=\"twitter:description\" content=\"Phillip John Bucaro submitted a FINRA AWC in which he was fined $7,500 and suspended from association with any FINRA member in any capacity for four &#8212; February 3, 2015\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FINRA Broker, Phillip John Bucaro, Fined for Selling Unapproved Annuities &#8212; 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