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Paul Bonaccini of Traverse City, Michigan Terminated for Unauthorized Trading

business-861325_1920-300x225Paul Bonaccini (CRD #: 2071614), a 28-year veteran of the securities industry whose experience spans five firms, was terminated from Raymond James & Associates (CRD#: 705) on June 4, 2019 for “failure to follow management directives and allegations of unauthorized trading in client accounts,” according to his BrokerCheck report accessed on July 31, 2019. He is currently registered with Wedbush Securities Inc. (CRD#: 877) of Traverse City, Michigan.

Paul Bonaccini has two other disclosures on his BrokerCheck record. He settled a customer dispute for $60,000 after a customer filed a claim on April 23, 2009 because he allegedly had concerns about the suitability of CDs, corporate debt, mutual funds, and unit investment trusts. His firm denied an allegation that he engaged in unauthorized trades. The client, who filed a claim on March 16, 2009, requested $6,000 in damages. On his broker comment, Paul Bonaccini asserts, “After receiving confirmations of those trades (approx. first week of Feb), client called me to indicate that she did not see where the income was on the confirms. I indicated it would be reflected on her statement, not on the confirms. During the first week of March, client attempted to write a check from her account for $1,000 from the Heritage account, which had been cancelled as requested. Within a few days of notifying client that the check would not be covered since the Heritage account was closed, we received the attached letter of complaint about trades done back in January, which were discussed, confirmations sent and followed up on via telephone (discussing income). At no point was there any concerns about those trades, until we notified her of the check not being cleared.”

He has also worked for Roney & Co. (CRD#: 45091), Roney & Co. L.L.C. (CRD#: 900), and Prudential Securities Incorporated (CRD#: 7471).

If you’ve done business with Paul Bonaccini and have questions about your investments, don’t hesitate to call the experienced securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email infor@fkesq.com for your free consultation.

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