February 7, 2014
Former Wells Fargo Advisors, LLC and current JHS Capital Advisors, LLC broker Daniel J. Mancuso (CRD# 2519423) of Portland, Orgeon was recently censured and fined ten thousand dollars ($10,000) for violating FINRA rules. On February 6, 2014, Mancuso entered into a Letter of Acceptance, Waiver and Consent (No. 2012031643901) to resolve allegations made by FINRA that while employed by Wells Fargo Advisors he “exercised discretion in the accounts of three customers with regard to the customers’ syndicate trading without first obtaining the customers’ written authorization that was accepted by the firm.” FINRA further alleged that “Mancuso improperly exercised discretion to purchase shares for the customers in approximately 43 syndicate trades without first obtaining customer indications of interest.” Mancuso’s actions were alleged by FINRA to have violated NASD Conduct Rule 2510(b) and FINRA Rule 2010.
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