David Panetta – David Michael Panetta, Financial Advisor Suspended from Securities Industry

David Panetta – David Michael Panetta, Financial Advisor Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses

David Panetta CRD# 1899328

David Panetta was formerly licensed with Allstate Financial Services, LLC in Nutley, New Jersey. FINRA reports that David Panetta was suspended from the securities industry for two months and fined $7,500 in June, 2017.

According to FINRA: David Panetta consented to the sanctions and to the entry of findings that David Panetta engaged in unapproved outside business activities by selling unapproved insurance products through an entity unaffiliated with David Panetta’s member firm without prior notice to the firm. The findings stated that David Panetta received approximately $12,000 in compensation for these sales but did not disclose the sales or his compensation to the firm. The findings also stated that David Panetta provided inaccurate responses on the firm’s annual attestations concerning David Panetta’s participation in outside business activities.

According to David Panetta’s CRD, David Panetta was discharged from Allstate Insurance Company on December 8, 2016. According to David Panetta’s CRD, David Panetta was terminated after allegations of engaging in an outside business activity for the sale of an unauthorized product without providing written notice to the firm.

If you lost money on investments with David Panetta and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning David Panetta’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with David Panetta and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.  

Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange

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