FINRA’s Department of Enforcement initiated an investigation into Buonocore’s alleged misconduct. Specifically, FINRA investigated whether Buonocore trading activities affected the accounts of one or more of his customers. Based upon Buonocore’s FINRA BrokerCheck report, FINRA’s investigation may have focused on Buonocore’s alleged churning and unsuitable investment recommendations in at least two customer accounts. In connection with this investigation, FINRA sent Buonocore a request to provide testimony pursuant to FINRA Rule 8210. According to FINRA, Buonocore failed to cooperate with the investigation.
Based upon the foregoing alleged misconduct, FINRA asserted Buonocore violated FINRA Rules 2010 and 8210. Specifically, FINRA Rule 8210 authorizes FINRA, in the course of its investigations, to require persons associated with a FINRA member to “provide information orally, in writing, or electronically . . . with respect to any matter involved in the investigation...” Here, Buonocore failed to provide information in response to FINRA’s request, thereby violating FINRA Rule 8210.
Lufrano Law, LLC is a national securities litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. If you suffered investment damages with Buonocore while employed by Meyers Associates, you may be able to recover your losses through FINRA arbitration. Our firm only receives a fee if you recover money. Please contact one of our attorneys at (800) 627-2179 to schedule a free consultation or complete our free case evaluator.