Robert DePalo – Excessive Commissions Charges
Robert P. DePalo and Arjent LLC Allegedly Charged Excessive Commissions in Equity Trades and Purportedly Violated AML “Know Your Customer” Requirements
Robert P. DePalo, of Greenwich, Connecticut, is the CEO and President of Arjent LLC, a firm which allegedly charged excessive commissions in equity trades, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Jason Kane and James Booker.
Arjent LLC also allegedly violated stipulations of AML’s “Know Your Customer” Policy in regards to certain bond trades, the aforementioned AWC also reports.
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating Robert P. DePalo and Arjent LLC’s alleged charging of excessive commissions.
DePalo and Arjent LLC Allegedly Diverted Funds from Bond Issuers to DePalo or Entities He was Affiliated with or Owned; DePalo Barred by FINRA.
Robert P. DePalo allegedly diverted funds from certain bond trades to entities that he owned or was affiliated with, according to the aforementioned AWC currently under review by attorneys Jason Kane and James Booker.
DePalo has allegedly been served six letters by FINRA since 2015 requesting that he provide recorded testimony regarding a FINRA investigation into whether DePalo had been charging customers excessive commissions.
Robert P. DePalo has been barred by FINRA from associating with any FINRA member firm in any capacity for allegedly failing to provide testimony requested pursuant to FINRA Rules and has been ordered to pay costs in the amount of $3,336.41, which also includes a $750 administrative fee and the cost of the hearing transcript, the AWC also reports.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of alleged excessive commissions and are currently investigating Robert P. DePalo alleged overcharging of commissions. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Robert P. DePalo alleged overcharging of commissions may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.