Peter Borrello Fined For Allegedly Failing To Keep Client Information Confidential
Peter Borrello (CRD #1841005), a broker and investment adviser with Stifel, Nicolaus & Company, has been fined for allegedly failing to maintain the confidentiality of client information, according to his BrokerCheck Record accessed on October 18, 2021.
If you have any questions about Peter Borrello’s conduct as a broker, keep reading.
Peter Borrello Fined By the State of Maine
On August 17, 2021, the State of Maine alleged that Peter Borrello failed to protect the security and confidentiality of the non-public personal information of an elderly client by telling her estranged sons that she wanted them to be named as beneficiaries and provided one of the sons the paperwork to become the Power of Attorney for the client’s account.
Peter Borrello’s Sanctions
Peter Borrello consented to the following sanctions
- A fine of $10,000.00
- Attend training on maintaining the confidentiality of client information and spotting the red flags of elder abuse and the appropriate steps to take in response.
Peter Borrello completed the required training on August 24, 2021.
Peter Borrello Employment Termination
On October 1, 2019, UBS Financial Services Inc fired Peter Borrello following allegations that he violated firm policies including a failure to disclose outside accounts for which he provided trading recommendations and failing to escalate complaints regarding his treatment of an investor.
Peter Borrello Background Information
Peter Borrello has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Peter Borrello is a registered broker in 29 states and is a registered investment adviser in Texas
Besides Stifel, Nicolaus & Company, Peter Borrello has worked with the following firms:
- UBS Financial Services Inc. (CRD#:8174)
- Dean Witter Reynolds Inc. (CRD#:7556)
Kurta Law Can Help
If you suffered losses after working with Peter Borrello, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.