Despite two previous suspensions, FINRA’s Department of Enforcement investigated Gassoso and found he executed unauthorized trades in one of his customer’s accounts. Specifically, on April 23, 2013 and April 25, 2015, Gassoso placed unauthorized trades in Amarin Corp, Penn West Petroleum, and Doubleline Income Solution in his client’s account.
Based upon the foregoing misconduct, FINRA alleged Gassoso violated FINRA Rule 2010. The Rule requires members to comply with “high standards of commercial honor and just and equitable principles of trade.” Here, Gassoso executed unauthorized and discretionary trades in a non-discretionary account thereby violating FINRA Rule 2010.
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 losses with Gassoso through NSC, 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.