Alleged Misconduct of Vincent John Colletti

Vincent John Colletti allegedly engaged in unauthorized trading, exercised discretionary authority without prior written authorization, and falsified firm records, according to FINRA findings . FINRA stated that these actions violated industry rules designed to protect investors and ensure the integrity of the brokerage system.

Colletti entered the securities industry in 2002 and worked with several firms, including Morgan Stanley and RBC Capital Markets. He later became associated with Oppenheimer & Co., where the alleged misconduct occurred. Colletti is no longer registered with any FINRA member firm and is not currently working in the securities industry.

The primary FINRA rule implicated in this case is Rule 3260, which prohibits brokers from making trades in a customer’s account without the customer’s prior written authorization. This rule ensures that customers remain in control of their investments. For example, a broker may not purchase shares of a stock without first obtaining written approval from the client, and they may not sell a bond without the client’s consent. In addition, falsifying firm records violates FINRA Rule 4511, which requires accurate books and records to be maintained. Accurate records allow firms and regulators to monitor trading activity and detect possible misconduct.

According to FINRA, Colletti allegedly violated these rules by making trades without securing written authorization from clients and by altering firm records to make it appear as though trades had been properly approved. Such conduct undermines client trust, exposes investors to unwanted risk, and damages the credibility of the securities industry. Unauthorized trading can lead to substantial financial losses for clients, while false recordkeeping impairs the firm’s ability to oversee accounts and comply with regulatory obligations.

Lufrano Law, LLC is a national investment litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. Please contact us at (800) 627-2179 for more information if you have been the victim of investment negligence or fraud.

The content on this site reflects personal opinions and does not constitute statements of fact. No findings have been made against the firms or individuals mentioned. This blog is intended solely for educational purposes, drawing on publicly available information to provide general insights and a basic understanding of the law. It is not a substitute for legal advice.