Securities Arbitration Lawyers BlogFINRA Bars Broker Gianluca De Berardinis
Gianluca De Berardinis (CRD: 4893776) is a formerly registered broker last employed with Morgan Stanley Wealth Management (CRD# 149777) of New York, NY. He was previously employed briefly with Quad Capital, LLC (CRD# 148927), also of New York. He has been in the industry since 2012.
De Berardinis failed to respond to FINRA’s requests for information. FINRA followed with letters of suspension and association, which became a permanent and indefinite bar from association with any FINRA member in all capacities on March 15, 2024. No additional information is available.
De Berardinis voluntarily resigned from Morgan Stanley on 6/23/2023. Morgan Stanley alleges in the Form F5 that he was involved in both selling away and taking unauthorized withdrawals from a customer’s brokerage account. In his broker comment, De Berardinis stated that he left to open his own registered investment advisory firm.
There are three customer disputes in De Berardinis’ CRD. The most recent was filed on 12/06/2022, in which a customer alleged that “the risk to his principal was misrepresented in purchase of structured product 2022.” However, no damages were requested, and the claim was ultimately withdrawn.
The next dispute was filed on 06/09/2023, with allegations that from December of 2022 through February of 2023, De Berardinis made unauthorized withdrawals from the client’s account. This case was subsequently settled for $23,820.70.
The last dispute was filed on 8/18/2023, with allegations from the client’s attorney that in 2020, De Berardinis solicited them for private placement investments that were unrelated to Morgan Stanley. Although this client requested damages of $200,000, the claim was ultimately withdrawn.
Private Placements A Frequent Cause Of Investor Dispute
Private placements allow companies to raise capital without the need for an Initial Public Offering (IPO). It’s a popular choice for startups in their initial stages of formation. Companies raise capital and investors who buy private placements earn a return on their principal.
But private placements come with certain risks. They are almost unregulated when compared to securities that are sold on the open market, and the placements are illiquid, meaning they can’t be sold for cash easily. The company is not required to publicly disclose as much financial information, and can stay private while it recruits shareholder investments. Silver Law Group frequently hears from unhappy private placement investors who’ve lost principal and/or are stuck in an investment they want to get out of.
Did You Invest With Gianluca De Berardinis?
Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today at (800) 975-4345 and let us know how we can help.