Claimants allege Mr. Minichino gave unsuitable recommendations and breached his fiduciary duty and that the Firm failed to supervise. The clients collectively had 4 accounts with the Firm and with Mr. Minichino as the Rep on all of them between October 2014 (and December 2014) until early 2016.

$120,000.00

$53,000.00

FINRA

Respondent Mr. Minichino failed to respond to FINRA request for information.

Letter

Bar (Permanent)

All capacities

Indefinite

12/20/2018

Pursuant to FINRA Rule 9552(h) and in accordance with FINRA's Notice of Suspension and Suspension from Association letters dated September 17, 2018 and October 11, 2018, respectively, on December 20, 2018, Minichino is barred from association with any FINRA member in all capacities. Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in all capacities.

FINRA

Respondent Minichino failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Letter

Suspension

All capacities

Indefinite

Continues until required payment is made or discharged.

9/13/2018

Pursuant to Article VI, Section 3 of FINRA By-Laws, and FINRA Rule 9554, Respondent Minichino is suspended on September 13, 2018, for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. Expedited Proceeding #ARB180024.

Customer alleges in April 2017 registered representative advised to rollover several annuity IRAs into other investments and at no time was advised of the tax rule that allows only one rollover per tax year.

$70,000.00

$56,671.00

NEXT FINANCIAL GROUP, INC.

Discharged

RR was discharged after an internal review involving trading in a customer's accounts that appeared to be unsuitable

$44,390.10

Civil

$7,469.00

Tax

$6,402.00

Tax

$28,430.92

Tax