Goodman & Nekvasil P.A, May Recover Investor Losses | Rocco Roveccio, SEC Files Complaint Involving Financial Advisor
From 2012 until 2014 Rocco Roveccio was licensed with Alexander Capital, L.P. Rocco Roveccio is now licensed with First Standard Financial Company LLC.
The SEC filed a complaint alleging sales practice violations against Rocco Roveccio in 2017. The claim alleges that Rocco Roveccio recommended to seven customers, a pattern of high cost, in-and-out trading without any reasonable basis to believe that Rocco Roveccio’s recommendations were suitable for anyone. The complaint alleges that Rocco Roveccio made material misrepresentations, and that these recommendations resulted in losses for the customers and ill-gotten gains for Rocco Roveccio. The complaint also alleges that Rocco Roveccio determined, on a trade-by-trade basis, the amount to charge the customer in commissions on agency trades, mark-ups and mark-downs on principles, as well as charge a fixed per-trade “commission/handling” fee of $39 and, later, $49 per trade. The complaint alleges that Rocco Roveccio churned customers by short-term buying and selling of the securities despite it not being in the best interests of Rocco Roveccio’s customers. Rocco Roveccio’s customers paid a total of $331,499 in commissions, mark-ups, mark-downs, and other costs. Additionally, the complaint alleges that Rocco Roveccio engaged in unauthorized trading in at least three customers’ accounts. FINRA reports the SEC complaint is currently pending.
If you lost any money on investments with Rocco Roveccio, you may be able to recover your losses from Alexander Capital, L.P. and/or First Standard Financial Company LLC This is because Alexander Capital, L.P. and First Standard Financial Company LLC had a duty to supervise Rocco Roveccio.
If you lost money on investments with Rocco Roveccio, and believe that 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 against Alexander Capital, L.P. and/or First Standard Financial Company LLC, concerning Rocco Roveccio’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.
Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on any investments with Rocco Roveccio 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.