February 26, 2015
Former Wells Fargo Advisors, LLC and Oppenheimer & Co. Inc. stockbroker Perry Abbonizio (CRD# 2787112) of Jenkintown, Pennsylvania recently entered into a Letter of Acceptance, Waiver and Consent to resolve allegations FINRA made against him regarding violations of securities industry rules. Abbonizio consented, without admitting or denying the allegations made against him by FINRA, to a $10,000 fine and a four (4) month suspension from associating with any FINRA member firm in any capacity in resolution of FINRA Disciplinary Proceeding No. 2011028152201. According to FINRA, from March 2008 through April 2011, Abbonizio participated in private securities transactions by soliciting approximately ten Wells Fargo Advisors’ Clients to invest approximately a total of $625,000 in three private placements without the firm’s knowledge or permission. FINRA also alleged that Abbonizio engaged in an unapproved outside business activity by referring individuals who were hired by a company involved in the private placement and receiving compensation from the company in the form of shares without providing notice to his employer at the time, Wells Fargo Advisors. FINRA claimed that Abbonizio’s conduct violated NASD Rules 3040, 3030, 2110, and FINRA Rule 2010.
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