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Peter Baldeo Involved in Investor Dispute

Mar 16, 2022 Unauthorized Trading

Peter Baldeo (CRD #:6023171), a registered broker and investment advisor with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is involved in an investor dispute, according to his BrokerCheck record, accessed on March 2, 2022. 

Investor Allegations

According to the allegations filed on November 22, 2021, Peter Baldeo allegedly failed to follow instructions, executed unauthorized trades and failed to act in his best interests between May and November 2021. The investor is seeking $55,518.19; the case is still pending.

FINRA Rules 2010 and 3260

  1. It is the duty of a broker to perform a customer's orders promptly in a manner best suited to serve the customer's best interest. Failure to follow customer instructions violates FINRA Rule 2010, which requires all registered members to observe high standards of commercial honor and just principles in their business dealings. 
  2. FINRA Rule 3260 requires that brokers have authorization before executing trades in a non-discretionary account. Making unauthorized trades is also a violation of FINRA Rule 2010.

Background Information

Peter Baldeo has passed the following exams:

  • Series 66 - Uniform Combined State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 3 - National Commodity Futures Examination
  • Series 7 - General Securities Representative Examination

Peter Baldeo is a registered broker in 28 states and Washington D.C. He is also a registered investment advisor in Texas, New Jersey, and Pennsylvania. 

Besides Merrill Lynch, Pierce, Fenner & Smith Incorporated, Peter Baldeo has also worked with Morgan Stanley (CRD#:149777). 

Kurta Law Can Help

If you have worked with Peter Baldeo and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.