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Broker Peter Neary Was Discharged From Two Former Employers

Peter NearyPublic records published by the Financial Industry Regulatory Authority (FINRA) on November 23, 2016 indicate that Michigan-based IFS Securities broker/adviser Peter Neary has been sanctioned by FINRA. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Neary (CRD# 1878395).

Peter Neary has spent 27 years in the securities industry and has been registered with IFS Securities in Livonia, Michigan since 2015. Previous registrations include Wunderlich Securities in Plymouth, Michigan; RBC Capital Markets in Plymouth, Michigan; Ferris Baker Watts in Plymouth, Michigan; Comerica Securities in Detroit, Michigan; Independence One Brokerage Services in Farmington Hills, Michigan; Liberty Securities Corporation in Purchase, New York; John Hancock Distributors in Boston, Massachusetts; and John Hancock Mutual Life Insurance Company in Boston, Massachusetts. He is a registered broker and investment adviser with six US states: California, Florida, Maryland, Michigan, North Carolina, and Pennsylvania.

According to his BrokerCheck report, Peter Neary has received one FINRA sanction and one customer complaint. He was additionally discharged from two former employers.

In November 2016 FINRA sanctioned Peter Neary following allegations he “effected approximately 130-140 transactions (including both purchases and sales of securities) in the account of one of his former customers without having obtained prior written authorization from the customer and written acceptance of the account as discretionary by his member firm.” He was issued a twenty-day suspension and a fine of $5,000.

In 2015 a customer alleged Peter Neary, while employed at RBC Capital Markets and Wunderlich Securities, executed unnecessary, unauthorized and excessive trades. The complaint settled for $25,000.

In 2015 he was terminated from his position at Wunderlich Securities following allegations he participated in “excessive, unnecessary trading and unauthorized trading.”

In 2005 he was terminated from his position at Comerica Securities following allegations he misrepresented the amount of fees associated with certain mutual fund transactions.

If you have suffered losses while investing with Peter Neary, you may be entitled to a recovery. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.