Securities Arbitration Lawyers BlogFINRA-barred New Jersey Broker Robert B. Delguercio Under Investigation Due to 15 Disclosures on his BrokerCheck Report
Silver Law Group is investigating former Herbert J. Sims & Co. Inc. (“HJ Sims”) broker Robert B. Delguercio (CRD# 2639851) after FINRA permanently barred him from the acting as a broker or otherwise associating with a brokerage firm.
According to Delguercio’s FINRA BrokerCheck report, FINRA barred the New Jersey-based broker after he refused to appear for FINRA-requested on-the-record testimony related to a FINRA arbitration claim filed by his customers.
Robert B. Delguercio’s Extensive List of BrokerCheck Disclosures
In total, Delguercio has 15 FINRA BrokerCheck disclosures. His first was recorded in 2003 after Delguercio allegedly misrepresented a mutual fund he recommended to his customer. The complaint was settled for the full amount of alleged damages.
In 2009, PNC Investments allowed Delguercio to voluntarily resign after a customer alleged that Delguercio misrepresented an investment while he was on internal review by PNC Investments.
In October 2012, Delguercio declared bankruptcy. Bankruptcy may appear harmless, but it can lead to greater issues. First and foremost, how can a broker handle your money if he can’t handle his own? Also, a bankruptcy indicates financial strife in a broker’s life. Financial difficulties can lead to a propensity to recommend higher-commission investment products or more extreme misconduct such as churning.
Further, since Delguercio’s bankruptcy, he has had two (2) other finances-related disclosures: a financial compromise in January 2015 and a tax-related lien in the amount of $65,000 in May 2015.
Delguercio has had three (3) complaints settle or a final judgment rendered since September 2013 for a grand total of $335,000. The complaints allege misconduct such as unauthorized transfer of funds, negligence, breach of fiduciary duty, unauthorized trading, churning, fraud and unsuitability.
Robert B. Delguercio’s Employment History
HJ Sims employed Delguercio from February 2012 to August 2017, right before FINRA permanently barred him from the securities industry. Delguercio operated out of HJ Sims’ Iselin, New Jersey branch.
Prior to HJ Sims, Delguercio worked with UBS Financial Services Inc. in its Bedminster, New Jersey branch.
In total, Delguercio has been employed by 10 different brokerage firms over the course of a 21-year career.
Contact Our Firm if You’ve Invested with Robert B. Delguercio and Herbert J. Sims & Co.
Our firm has a wealth of experience representing investors who have suffered losses at the hands of brokers and brokerage firms. We combine that experience with an ardent passion for pursuing claims against broker and brokerage firm misconduct. If you’ve incurred losses through a broker and brokerage firm, you have options to try and recover.
If you have invested with Robert B. Delguercio and have suffered losses, contact our firm to discuss your options.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.