On December 23, 1996, Richard Piccinini, Jr. first became registered with a FINRA member firm. From June 2, 2010 through April 20, 2012, Piccinini was registered with LPL Financial.
On February 25, 2013, Richard Piccinini, Jr. and FINRA entered into a letter of acceptance, waiver and consent, known as an AWC (No. 2012032284301). According to the AWC, Mr. Piccinini sold five fixed insurance policies to three people outside the scope of his employment at LPL Financial. Richard Piccinini received $13,944 as compensation for the undisclosed insurance policy sales. In addition, he inaccurately certified to LPL Financial that he did not engage in any outside business activity. This conduct constituted a violation of FINRA Rules 3270 and 2010.
In addition to these FINRA Rule violations, Richard Piccinini has been the subject of at least two other disclosed customer complaints. These complaints did not occur while he was employed at LPL Financial.
Based on the activity described in the AWC, Piccinini consented to a $5,000 fine as well as a thirty business day suspension from association with any FINRA member in any capacity. For more information on Mr. Piccinini and his suspension, please visit FINRA’s website.