Peter Suyama Fined By FINRA Following Allegations of Financial Misconduct
Peter Suyama (CRD #: 1404564), a broker registered with MML Investors Services, has been suspended by FINRA for private security transaction allegations, according to his BrokerCheck record, accessed on July 22, 2021.
Private securities transactions are transactions that take place outside of the broker’s scope of work with their firm. According to FINRA rules, brokers are not allowed to participate in private securities transactions unless they provide written notice to their firm beforehand.
On June 10, 2021, Peter Suyama consented to the findings that he purchased $50,000 of preferred shares of a bio-technology company. He allegedly purchased them directly from the company instead of going through his firm at the time, LPL Financial. Suyama allegedly also did not provide written notice to LPL Financial and falsely stated on a compliance questionnaire that he had not participated in any private securities transactions.
As part of the terms of the AWC, Peter Suyama consented to a $5,000 fine and a 20-day suspension. You can read a copy of the AWC here.
Peter Suyama Background Information
Peter Suyama has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
He is a registered broker in Maryland, Virginia, and D.C. and is a registered investment adviser in Virginia.
Suyama has worked with the following firms:
- MML Investors (CRD #: 10409)
- Global Retirement Partners (CRD #: 172011)
- LPL Financial (CRD #: 6413)
- Ameriprise Financial Services (CRD #: 6363)
- IDS Life Insurance Company (CRD #: 6321)
Kurta Law Can Help
If you worked with Peter Suyama and you have concerns about financial misconduct, contact Kurta Law today. Call 212-658-1502 or email email@example.com.