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Peter Girgis Facing FINRA Fine Following Allegations of Excessive Trading

Mar 8, 2022 Excessive Trading

Peter Girgis (CRD #: 4520444), a broker registered with SW Financial, has been fined by FINRA following allegations that he excessively traded in his investor’s account. This is according to his BrokerCheck record, accessed on February 24, 2022.

On December 1, 2021, Peter Girgis consented to the findings that he engaged in excessive trading. FINRA determines excessive trading by looking at the cost-to-equity ratio. The cost-to-equity ratio is the percentage by which the portfolio would have to grow in order to cover trading costs and sales commissions. A cost-to-equity ratio over 20% indicates excessive trading.

  • One customer’s portfolio had a cost-to-equity ratio of 84.63% and allegedly lost $137,215.
  • A customer’s portfolio had a cost-to-equity ratio of 46.84% and allegedly suffered losses of $34,929.

Two other customers allegedly had portfolios with cost-to-equity ratios of over 20%.

Altogether, the investors allegedly realized losses of $224,573 and Peter Girgis allegedly earned $181,877.

Peter Girgis consented to a nine-month suspension and a $7,500 fine. He also agreed to pay $169,677 in restitution.  You can read a copy of the AWC here.

Investor Disputes

There are three other investor disputes from 2015 to 2017. He has collectively settled the disputes for $79,998.

Background Information

Peter Girgis has passed the following exams:

  • Series 63 Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 General Securities Representative Examination

He is a registered broker in 24 states.

Peter Girgis has worked for the following firms:

  • Worden Capital Management (CRD #: 148366)
  • Legend Securities (CRD #: 44952)
  • Joseph Gunnar & Co. (CRD #: 24795)
  • Brookstone Securities (CRD #: 13366)
  • P. Turner & Company (CRD #: 43177)
  • Gunnallen Financial (CRD #: 17609)
  • Joseph Stevens & Company (CRD #: 35459)

Kurta Law Can Help

If you have worked with Peter Girgis and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or for a free consultation. 

For nearly 20 years, Kurta Law has advocated on behalf of investors who have lost money following broker fraud or misconduct. Kurta Law is a nationally recognized law firm and exclusively represents investors on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Our attorneys will work tirelessly to restore your lost funds and get your financial future back on track.