Timothy Calabrese Allegedly Engaged in Unauthorized Trading

Timothy Calabrese (CRD #: 1768853), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on October 24, 2023. Details are provided below. 

On August 28, 2023, an investor alleged that Timothy Calabrese engaged in unauthorized trading. The dispute was denied by the firm, but investors should know that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

FINRA Rule 3260

FINRA Rule 3260 limits discretionary trading by brokers to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm. Discretionary trading that takes place in an account that has not been approved is unauthorized.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 3260 also violate this rule. 

Background Information 

Timothy Calabrese has passed the following exams: 

• Series 66 Uniform Combined State 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 37 states and D.C. He is also a registered investment adviser in Maryland and Texas. 

Timothy Calabrese is a registered broker with the following firms: 

• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 
• Morgan Stanley & Co. (CRD #: 8209) 
• Morgan Stanley DW (CRD #: 7556) 
• Johnston, Lemon & Co. (CRD #: 473) 

Kurta Law Can Help

If you worked with Timothy Calabrese and 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 that 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.