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FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
The representative was previously registered both as an investment adviser and as a broker. Visit BrokerCheck for more information on this individual's Broker record. Go to BrokerCheck Site
DEL GUERCIO IS THE SUBJECT OF AN ORDER OF A SELF-REGULATORY
ORGANIZATION EXPELLING HIM FROM A SELF-REGULATORY
ORGANIZATION
Resolution
Order
Sanctions
Revocation
Sanctions
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.
10/16/2017
Regulatory
Final
Initiated By
FINRA
Allegations
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.
Resolution
Acceptance, Waiver & Consent(AWC)
Bar
Bar (Permanent)
Registration Capacities Affected
All Capacities
Duration
Indefinite
Start Date
10/16/2017
7/21/2016
Customer Dispute
Settled
Allegations
Client Claims the unsuitable investments, Fraud, unauthorized trading, churning, negligence, breach of fiduciary duty.
Damage Amount Requested
$400,000.00
Settlement Amount
$155,000.00
5/27/2015
Judgment / Lien
Judgment/Lien Amount
$65,000.00
Judgment/Lien Type
Tax
Broker Comment
payment plan established to resolve debt
8/11/2014
Customer Dispute
Final
Allegations
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.
Damage Amount Requested
$5,000.00
Broker Comment
I DENY ALL ALLEGATIONS MADE BY THE [CUSTOMERS]
THIS IS A CIVIL LITIGATION; INADVERTENTLY FILED INFORMATION UNDER ITEM 7.
9/11/2013
Customer Dispute
Settled
Allegations
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
Damage Amount Requested
$10,400,000.00
Settlement Amount
$175,000.00
10/12/2012
Customer Dispute
Denied
Allegations
CLIENT CLAIMS THE GNMA'S THEY WERE SOLD WERE NOT A SUITABLE INVESTMENT
Damage Amount Requested
$12,000.00
Broker Comment
THIS INVESTMENT WAS DISCUSSED AND EXPLAINED TO CLIENTS IN DETAIL PRIOR TO PURCHASE.
5/25/2012
Customer Dispute
Denied
Allegations
UNAUTHORIZED TRANSACTIONS AND LIQUIDATIONS IN CUSTOMERS INVESTMENT ACCOUNT
Damage Amount Requested
$1,228,216.00
Broker Comment
MR. DELGUERCO DENIES ALL ALLEGATIONS.CLIENTS HUSBAND HAD FULL POWER OF ATTORNEY ON ACCOUNT AND ALL TRANSACTIONS WERE DONE AT HIS REQUEST AND INSTRUCTIONS
4/9/2012
Customer Dispute
Denied
Allegations
CLIENTS CLAIM MR. DELGUERCIO MISREPRESENTED THE WRAP PROGRAM
Damage Amount Requested
$134,933.14
Broker Comment
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.
12/9/2009
Employment Separation After Allegations
Firm Name
PNC INVESTMENTS
Termination Type
Voluntary Resignation
Allegations
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.
Broker Comment
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.
6/23/2008
Customer Dispute
Denied
Allegations
CUSTOMER EXPRESSED DISSATISFACTION WITH THE SALES PRACTICES OF ROBERT DELGUERICO. SPECIFICALLY CUSTOMER ALLEGED A FAILURE TO FOLLOW INSTRUCTIONS.
Damage Amount Requested
$10,800.00
2/29/2008
Customer Dispute
Denied
Allegations
CLIENT EXPRESSED DISSATISFACTION WITH THE SALES PRACTICES OF ROBERT DEL GUERCIO. SPECIFICALLY CLIENT ALLEGES MISREPRESENTATION.
Damage Amount Requested
$19,388.00
1/29/2007
Customer Dispute
Closed-No Action
Allegations
CUSTOMER ALLEGES MISREPRESENTATION OF VARIABLE ANNUITY. CUSTOMER BELIEVED IT CARRIED A GUARANTEED RATE OF RETURN.
Damage Amount Requested
$11,000.00
11/14/2003
Customer Dispute
Settled
Allegations
CLIENT ALLEGES MISREPRESENTATION OF MUTUAL FUNDS PURCHASED ON 6/2/03. CLAIMS REP PROMISED NO LOSSES AND GUARANTEED DIVIDEND RATE.
Damage Amount Requested
$6,740.19
Settlement Amount
$6,740.19
License(s)
The broker is not currently registered with any state or SRO.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
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Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.