Victim of Financial Fraud? Call Now
Home » Broker Blog » Peter Rice Allegedly Failed to Disclose Annuity Contract Term

Peter Rice Allegedly Failed to Disclose Annuity Contract Term

Peter Rice (CRD #: 5203302), a broker registered with Wells Fargo Clearing Services, allegedly failed to fully inform a client, according to his BrokerCheck record, accessed on January 10, 2023. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

On October 13, 2022, an investor filed a dispute alleging that Peter Rice recommended an annuity without informing her that the contract had a 5-year term. The client alleged that he failed to disclose this information between March 15, 2021, and the date of filing. The firm denied the dispute.

However, investors should know that firms can deny disputes without an outside review. Investors may be able to recover their funds by pursuing FINRA arbitration.

FINRA Rule 2020

The omission of information related to investments violates FINRA Rule 2020, which bans the use of manipulative, deceptive, and otherwise fraudulent methods to influence investors’ decisions, including omissions of information. 

Background Information

Peter Rice has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Peter Rice is a registered broker in 14 states and a registered investment adviser in California and Texas.

He has also worked for Wells Fargo Investments (CRD#:10582).

Kurta Law Can Help

If you worked with Peter Rice 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. 

 

Recent Results

$16.75M

Million

Recovery for ARC NYC REIT Investors
Learn More
Kurta Law recovered millions of dollars for investors who purchased the speculative and unsuitable ARC NYC REIT. The arbitration settled for substantially more than the investor losses.

Recent Results

$9.3M

Million

Investors Receive Award for More than their Losses
Learn More
Jonathan Kurta was able to recover over $9.3 million for a group of defrauded investors. The claims were based upon the brokerage firm’s failure to supervise a stockbroker who stole client funds and then prepared and disseminated fake account statements for decades.

Recent Results

$7.1M

Million

Elderly Victims Recover After a Decade of Fraud
Learn More
Jonathan Kurta represented a group of elderly women who were the victims of a financial crime perpetrated by a rogue broker. The broker utilized forged documents to steal funds from the clients’ accounts over a decade.

Recent Results

$4.2M

Million

Investor vs. Royal Alliance
Learn More
Jonathan Kurta represented an investor who alleged that Royal Alliance Associates had not fulfilled their supervisory duties. This allegedly allowed brokers to engage in conversion and RICO violations. Read a copy of the award here.

Recent Results

$1M

Million

Utah Firm Executed Unnecessary Transaction
Learn More
A FINRA panel sided with Kurta Law and found that a Utah brokerage firm executed unnecessary transactions in order to generate more commissions. Read a copy of the award here.

Recent Results

$2M

Million

Arizona Investors Options Trading Scam
Learn More
Kurta Law negotiated a $2 million settlement on behalf of Arizona investors who were defrauded in an options trading scam.

Categories