{"id":7718,"date":"2019-01-31T12:54:02","date_gmt":"2019-01-31T17:54:02","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=7718"},"modified":"2019-02-01T14:13:23","modified_gmt":"2019-02-01T19:13:23","slug":"peter-malis-client-awarded-1-1m-settlement-after-churning-allegations","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/peter-malis-client-awarded-1-1m-settlement-after-churning-allegations\/","title":{"rendered":"Peter Malis Client Awarded $1.1M Settlement After Churning Allegations"},"content":{"rendered":"<p>Peter Michael Malis (<a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/317892\" target=\"_blank\">CRD #317892<\/a>) is a registered broker and investment advisor currently employed with Wells Fargo Clearing Services, LLC (CRD #19616) of Woodland Hills, CA. His previous employers include Prudential Securities Incorporated (CRD #7471) of New York, NY, Bache Halsey Stuart Inc. (CRD #7238) and Paine, Webber, Jackson &amp; Curtis Incorporated (CRD #640). He has been in the industry since 1969.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4666 alignleft\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Antonio-Costanzo-Permanently-Barred-by-FINRA-After-Alleged-Churning-in-Customer-Accounts-300x202.jpg\" alt=\"Antonio-Costanzo-Permanently-Barred-by-FINRA-After-Alleged-Churning-in-Customer-Accounts-300x202\" width=\"224\" height=\"151\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Antonio-Costanzo-Permanently-Barred-by-FINRA-After-Alleged-Churning-in-Customer-Accounts-300x202.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Antonio-Costanzo-Permanently-Barred-by-FINRA-After-Alleged-Churning-in-Customer-Accounts-768x517.jpg 768w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Antonio-Costanzo-Permanently-Barred-by-FINRA-After-Alleged-Churning-in-Customer-Accounts-1024x690.jpg 1024w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Antonio-Costanzo-Permanently-Barred-by-FINRA-After-Alleged-Churning-in-Customer-Accounts-1000x674.jpg 1000w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Antonio-Costanzo-Permanently-Barred-by-FINRA-After-Alleged-Churning-in-Customer-Accounts-178x120.jpg 178w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Antonio-Costanzo-Permanently-Barred-by-FINRA-After-Alleged-Churning-in-Customer-Accounts.jpg 1688w\" sizes=\"auto, (max-width: 224px) 100vw, 224px\" \/>According to CRD records, Malis has five disclosures on his record, all customer disputes. The most recent was filed on 12\/7\/2017, alleging unsuitable investments and that he never discussed any transactions with the client during the time period 2\/13\/2006 through 12\/31\/2016. This claim was denied.<\/p>\n<p>The next claim was filed on 09\/13\/2016, alleging excessive and unsuitable unauthorized trading, churning, and unsuitable account portfolio management from April 2002 through 2015. This claim went to arbitration and settled on May 2, 2017 for $1,100,000.00. Malis did not contribute to this settlement amount.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.silverlaw.com\/blog\/peter-malis-client-awarded-1-1m-settlement-after-churning-allegations\/\"  title=\"Continue Reading Peter Malis Client Awarded $1.1M Settlement After Churning Allegations\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Peter Michael Malis (CRD #317892) is a registered broker and investment advisor currently employed with Wells Fargo Clearing Services, LLC (CRD #19616) of Woodland Hills, CA. His previous employers include Prudential Securities Incorporated (CRD #7471) of New York, NY, Bache Halsey Stuart Inc. (CRD #7238) and Paine, Webber, Jackson &amp; Curtis Incorporated (CRD #640). He [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[589,580,581,576],"tags":[301,1359,1524,1525,847],"class_list":["post-7718","post","type-post","status-publish","format-standard","hentry","category-churning-2","category-stockbroker-misconduct","category-unauthorized-trading","category-unsuitable-investment-advice","tag-churning","tag-finra-arbitration-lawyer","tag-peter-malis","tag-peter-malis-wells-fargo-clearing-services","tag-wells-fargo-clearing-services"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Peter Malis Client Awarded $1.1M Settlement After Churning Allegations &#8212; Securities Arbitration Lawyers Blog &#8212; January 31, 2019<\/title>\n<meta name=\"description\" content=\"Peter Michael Malis (CRD #317892) is a registered broker and investment advisor currently employed with Wells Fargo Clearing Services, LLC (CRD #19616) of &#8212; January 31, 2019\" \/>\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\/peter-malis-client-awarded-1-1m-settlement-after-churning-allegations\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Peter Malis Client Awarded $1.1M Settlement After Churning Allegations &#8212; Securities Arbitration Lawyers Blog &#8212; January 31, 2019\" \/>\n<meta name=\"twitter:description\" content=\"Peter Michael Malis (CRD #317892) is a registered broker and investment advisor currently employed with Wells Fargo Clearing Services, LLC (CRD #19616) of &#8212; January 31, 2019\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Antonio-Costanzo-Permanently-Barred-by-FINRA-After-Alleged-Churning-in-Customer-Accounts.jpg\" \/>\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":"Peter Malis Client Awarded $1.1M Settlement After Churning Allegations &#8212; 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