Investors Seek Over $1.8 Million in Disputes with Peter Po

Peter Po (CRD #: 3106974), a broker registered with Emerson Equity, is facing allegations of unsuitable recommendations of GWG Holdings L Bonds, according to his BrokerCheck record, accessed on January 13, 2025. Read on to learn more about his alleged conduct as a broker.

Investor Disputes Involving Bonds

Three disputes filed in 2024 name Peter Po in allegations involving anticipated loss due to a corporate bond’s issuer declaring bankruptcy. The clients seek a collective $850,000 in damages.

Three more pending disputes, filed from July 2023 to November 2024, named Peter Po in allegations of breach of contract and regulatory violations with regard to unspecified bonds. These disputes seek $1.8 million in damages.

A dispute filed on April 21, 2023, named Peter Po in the following allegations in relation to GWG L bonds purchased in 2021:

• Violations of federal and California state securities laws
• Engaging in unfair, unlawful, and fraudulent business practices under California law
• Common law fraud
• Breach of contract
• Gross negligence and other negligence

This dispute was settled for $51,089.41.

Four disputes, filed from 2022-2023, name Peter Po in allegations including breach of contract, unsuitable recommendations, failure to supervise and other misconduct in connection with GWG Holdings’ L Bonds. These disputes were settled for a total of $574,447.

On August 25, 2022, three investors alleged that Peter Po breached his contract and violated laws with regard to the sale of GWG L bonds to them in 2018, 2019, and 2020. They received a settlement of $99,447.04.

In a dispute filed on June 21, 2022, investors alleged that Peter Po made unsuitable recommendations of GWG bonds from 2018-2021. The investor received $150,000.

On June 3, 2022, investors named Peter Po in yet another GWG L bond dispute, involving allegations of breach of contract, failure to supervise, and suitability. The dispute was settled for $235,000.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires brokers to recommend securities that adequately suit an investor’s financial goals. Brokers must consider the information in an investor’s profile, such as their risk tolerance, age, and tax status when making recommendations.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 3110

Failure to supervise violates FINRA Rule 3110, which requires that firms establish supervisory systems to ensure their compliance with securities regulations. Firms must also ensure that supervisory personnel have the training or experience necessary for their role.

Other Investor Disputes

On July 15, 2024, an investor alleged that Peter Po gave unsuitable and misleading investment recommendations, omitted material facts, and failed to conduct reasonable due diligence on investments. They seek $210,000 in this pending dispute.

On December 26, 2023, an investor alleged that Peter Po engaged in negligence with regard to the recommendation of certain real estate investment trusts (REITs). The client seeks $135,000.

On September 21, 2021, an investor alleged that Peter Po recommended a risky investment strategy involving unsuitable, high-risk, and illiquid alternative investments. He allegedly misled the client into believing that these investments were safe and low risk. The client sought $99,999 and received a settlement of $62,500. 

On January 22, 2018, an investor alleged that Peter Po failed to disclose there was a secondary market for their REIT interests. The investor sought $100,000 but the dispute was denied.

Investors should be aware that they can still pursue FINRA arbitration and recover their losses following a denial.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Termination from Voya Financial Advisors

On August 4, 2015, Peter Po was fired from Voya Financial Advisors following allegations that he violated firm policies by providing inaccurate client assets in connection with a transaction, using an unapproved email address, engaging in unapproved outside business activities, and discussing investment products in unapproved radio show appearances.

FINRA Rule 3270

FINRA Rule 3270 requires brokers to disclose any business activities they engage in outside their firm, as well as any compensation they may receive from these activities.

FINRA Rule 2210

FINRA Rule 2210 defines how firms and brokers are permitted to communicate with the public. Firms must approve retail communications before their publication, and some communications must be filed with FINRA’s Advertising Regulation Department.

Other Business Activities

Peter Po’s detailed BrokerCheck report currently lists one outside business activity: he is the owner and an agent with Peter Po Insurance Services, where he sells annuities and life and health insurance.

Background Information

Peter Po 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 31 Futures Managed Funds Examination
• Series 7 General Securities Representative Examination

He is a registered broker in California, Nevada, New Mexico, Texas, and Washington. He is also  a registered investment adviser in California.

Peter Po has registered with the following firms:

• Ni Advisors (CRD#:134502)
• Voya Financial Advisors (CRD #: 2882)
• MetLife Securities (CRD #: 14251)
• Metropolitan Life Insurance Company (CRD #: 4095)
• Mony Securities Corporation (CRD #: 4386)
• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
• Citicorp Investment Services (CRD #: 23988)
• Dean Witter Reynolds (CRD #: 7556)

Kurta Law Can Help

If you worked with Peter Po and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want 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.