FINRA

Without admitting or denying the findings, Gioffre consented to the sanction and to the entry of findings that he participated in private securities transactions without providing prior notice to his member firm, and Gioffre received totaling $100,000 in commissions for the sale of approximately $2,000,000 of securities to purchasers, who lost their entire investments. The findings stated that specifically, Gioffre recommended to several people, including a customer of his firm, an investment in a private placement that was not offered through the firm. Gioffre, however, created the false impression that the firm sanctioned the private placement by meeting with the issuer and potential investors at the firm's offices and using his firm-issued email address to communicate with the issuer and potential investors. Two of the people to whom Gioffre recommended the securities, including the firm's customer, invested a total of approximately $2,000,000 in the securities, $1,500,000 of which was invested by the firm's customer. As a result, Gioffre received the commissions, $75,000 of which was paid to him in connection with the customer's investment.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

6/23/2016