New Jersey Bureau of Securities

DEL GUERCIO IS THE SUBJECT OF AN ORDER OF A SELF-REGULATORY ORGANIZATION EXPELLING HIM FROM A SELF-REGULATORY ORGANIZATION

Order

Revocation

The agent and investment adviser representative registrations of Del Guercio are REVOKED. All exemptions contained in N.J.S.A. 49:3-50 subsection (a) paragraph 9, 10, and 11, and subsection (b), are hereby DENIED as to Del Guercio. The exemptions to the registration requirements provided by N.J.S.A. 49:3-56(b), N.J.S.A. 49:3-56(c), and N.J.S.A. 49:3-56(g), are hereby DENIED as to Del Guercio.

FINRA

Without admitting or denying the findings, Del Guercio consented to the sanction and to the entry of findings that he refused to appear for FINRA-requested on-the-record testimony related to an arbitration claim filed by his customers alleging sales practice violations.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

Indefinite

10/16/2017

Client Claims the unsuitable investments, Fraud, unauthorized trading, churning, negligence, breach of fiduciary duty.

$400,000.00

$155,000.00

$65,000.00

Tax

payment plan established to resolve debt

CLIENT ALLEGING PROFESSIONAL NEGLIGENCE, BREACH OF CONTRACT, AND BREACH OF FIDUCIARY DUTY BY THE REGISTERED REPRESENTATIVE WITH REGARD TO THE HANDLING OF THEIR INVESTMENT ACCOUNT, AND LOSSES INCURRED THEREIN.

$5,000.00

I DENY ALL ALLEGATIONS MADE BY THE [CUSTOMERS] THIS IS A CIVIL LITIGATION; INADVERTENTLY FILED INFORMATION UNDER ITEM 7.

TIME FRAME: FEBUARY 2007 TO FEBRUARY 2012 CLAIMANT ALLEGES THAT UNAUTHORIZED TRANSFER OF FUNDS FROM HER ACCOUNT WERE MADE BY THE REP AND HER NOW DECEASED HUSBAND

$10,400,000.00

$175,000.00

CLIENT CLAIMS THE GNMA'S THEY WERE SOLD WERE NOT A SUITABLE INVESTMENT

$12,000.00

THIS INVESTMENT WAS DISCUSSED AND EXPLAINED TO CLIENTS IN DETAIL PRIOR TO PURCHASE.

UNAUTHORIZED TRANSACTIONS AND LIQUIDATIONS IN CUSTOMERS INVESTMENT ACCOUNT

$1,228,216.00

MR. DELGUERCO DENIES ALL ALLEGATIONS.CLIENTS HUSBAND HAD FULL POWER OF ATTORNEY ON ACCOUNT AND ALL TRANSACTIONS WERE DONE AT HIS REQUEST AND INSTRUCTIONS

CLIENTS CLAIM MR. DELGUERCIO MISREPRESENTED THE WRAP PROGRAM

$134,933.14

THE CLIENTS WERE INVESTED IN PNC'S CONSERVATIVE TAX-FREE MUTUAL FUND PROGRAM. MR. DELGUERCIO HAS NEVER REPRESENTED TO THEM OR ANY CLIENT THAT THIS WAS A SPECIAL PROGRAM OR THAT IT WAS BACKED BY THE BANK. THEY UNFORTUNATLEY DID SUSTAIN SOME LOSES BUT MR. DELGURECIO DOES NOT BELIEVE TO THE EXTENT THEY CLAIM.

PNC INVESTMENTS

Voluntary Resignation

AS A RESULT OF A VERBAL COMPLAINT RECEIVED FROM A CLIENT ALLEGING MISREPRESENTATION OF A GNMA BOND PURCHASED ON 04/27/2009, MR. DELGUERCIO WAS UNDER INTERNAL REVIEW. MR. DELGUERCIO RESIGNED PRIOR TO THE CONCLUSION OF THE FIRM'S INVESTIGATION.

ALLEGATION IS DEEMED RETALIATORY BY PNC AS THEY REPORTED THIS ONLY AFTER I RESIGNED AND TRANSITIONED CLIENTS TO UBS. THIS TRADE WAS DISCLOSED IN WRITING BY ME TO ALL PARTIES AS AN ERROR IN JUNE 2009, BEFORE THE CLIENT VERBALLY COMPLAINED. THIS IS NOT A MISREPRESENTATION AS NOTED. GNMA BONDS ARE A LARGE PART OF MY BUSINESS, AND THIS BOND TRADED SHOULD HAVE BEEN QUESTIONED BY MY MANAGER UPON SETTLEMENT,AND CORRECTED IMMEDIATELY. UPON MY REVIEW AND DISCLOSURE OF THE TRADE ERROR TO PNC AND WITH THE CLIENT IN 6/09, PNC APPARENTLY EMBARQED ON A 5 MONTH "INTERNAL REVIEW" OF THE TRADE, RATHER THAN A SIMPLE CORRECTION. THIS "REVIEW"OR INVESTIGATION NEVER HAD A SPECIFIC DIRECTION, TIMELINE,OR FORMAL CONCLUSION, AND LINGERED ON AND ON. NO ANSWERS OR PROGRESS REPORTS WERE PROVIDED TO ME AT ANY TIME, AND THE DURESS OF PNCS UNPROFESSIONAL HANDLING OF THIS SIMPLE MATTER , LED TO MY VOLUNTARY RESIGNATION . ONLY AFTER I RESIGNED, DID PNC RETALIATE WITH THIS ALLEGATION TO IMPUNE MY REPUTATION AND PLACE THIS ON MY LICENSE. I HAVE RETAINED LEGAL COUNSEL TO PETITION FINRA TO REMOVE OR AMEND THIS OPEN ENDED ALLEGATION.

CUSTOMER EXPRESSED DISSATISFACTION WITH THE SALES PRACTICES OF ROBERT DELGUERICO. SPECIFICALLY CUSTOMER ALLEGED A FAILURE TO FOLLOW INSTRUCTIONS.

$10,800.00

CLIENT EXPRESSED DISSATISFACTION WITH THE SALES PRACTICES OF ROBERT DEL GUERCIO. SPECIFICALLY CLIENT ALLEGES MISREPRESENTATION.

$19,388.00

CUSTOMER ALLEGES MISREPRESENTATION OF VARIABLE ANNUITY. CUSTOMER BELIEVED IT CARRIED A GUARANTEED RATE OF RETURN.

$11,000.00

CLIENT ALLEGES MISREPRESENTATION OF MUTUAL FUNDS PURCHASED ON 6/2/03. CLAIMS REP PROMISED NO LOSSES AND GUARANTEED DIVIDEND RATE.

$6,740.19

$6,740.19