Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on January 11, 2017 indicate that former New Jersey-based Allstate Financial Services broker David Panetta has been terminated from his former employer and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Panetta (CRD# 1899328).
David Panetta has spent 27 years in the securities industry and was most recently registered with Allstate Financial Services in Nutley, New Jersey (2001-2016). Previous registrations include MetLife Securities in Springfield, Massachusetts (1989-2001) and Metropolitan Life Insurance Company in New York, New York (1989-2001). He is currently not registered with any state or firm.
According to his BrokerCheck report, David Panetta was recently discharged from his position at Allstate.
In December 2016 David Panetta was terminated from Allstate Insurance Company following allegations of “of engaging in an outside business activity for the sale of an unauthorized product without providing written notice to the firm.”
FINRA rules dictate that brokers like David Panetta may not participate in outside business activities without providing written notice to their employer. Specifically, FINRA Rule 3270 states: “No registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm, unless he or she has provided prior written notice to the member, in such form as specified by the member.” Brokers who violate this rule may be subject to disciplinary activity.
If you or someone you know has lost money investing with David Panetta, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.