FINRA Suspends Petersen Investments Broker for Failing to Disclose Settlement With Client
FINRA suspended New York-based broker Peter G. Alcure (CRD# 2406903) after he settled a customer’s losses without bringing the demand and subsequent settlement to his employing firm, Petersen Investments, Inc. (CRD# 38537).
According to Alcure’s FINRA BrokerCheck report, FINRA suspended him in July 2016 for one month after one of his customers verbally demanded that he pay her $20,000 to compensate her for losses she incurred in her account. According to the Acceptance, Waiver & Consent (“AWC”) entered into between Alcure and FINRA, Alcure failed to notify his firm about the verbal demand or the settlement of the claim.
Alcure, according to the AWC, sent the customer approximately 21 checks totaling an amount of approximately $12,500 to compensate her for her losses. Alcure was suspended for one month and fined $5,000, according to the AWC.