The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Peter Viglione. According to his publicly available FINRA BrokerCheck report, Peter Viglione has been the subject of multiple customer disputes over the course of his career. Peter Viglione is a New York-based securities broker. He has worked in the securities industry for fifteen years. During his career, he has been registered with seven different securities firms.

His Registrations

  • Casimir Capital L.P. (2003)
  • Oppenheimer & Co. (2003-2005)
  • S.W. Bach & Company (2005-2006)
  • National Securities Corporation (2006-2008)
  • John Thomas Financial (2008-2013)
  • Portfolio Advisors Alliance (2013-2014)
  • Laidlaw & Company (2014-Present)

The Allegations

  • In December 2011, a customer alleged that Peter Viglione churned their account and executed unauthorized trades. This case was settled for $85,000 in damages.
  • In July 2012, a customer alleged that Peter Viglione traded their account excessively, made trades without their authorization, and misrepresented account details to them. This case was settled for $125,000 in damages.
  • In May 2018, a customer alleged that Peter Viglione engaged in both unauthorized trading and excessive trading. This case was settled for $75,000 in damages.
  • In February 2019, a customer alleged that Peter Viglione excessively traded their account and charged them excessive commissions. This case was settled for $14,999 in damages.

Excessive Trading

It is very important that securities brokers execute trades in their customers’ accounts at a suitable frequency. When securities brokers trade their customers’ accounts excessively, it can cause them significant financial harm. This is because investors are charged additional fees every time a transaction is executed on their behalf. A large portion of these fees are given to the recommending broker as their commissions. When a securities broker excessively trades their customer’s account with the express purpose of generating additional commissions for themself, it is referred to as churning. This is a fraudulent trading practice that many securities broker unfortunately engage in.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Peter Viglione, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.