FINRA fined and suspended former NBC Securities broker Brian Gregory DiJulio for exercising discretion in 26 customer accounts without prior written authorization, and for improperly marking the associated transactions as "unsolicited" all while failing to mark these trades as discretionary.
FINRA's AWC #2018057561201 found that NBC Securities rep Brian DiJulio (CRD #1647694) entered trades for multiple customers in the same securities, on the same date, over "very short durations of time."
This drew firm suspicion, as investigators discovered that stockbroker DiJulio effected 65 transactions in 26 customer accounts to buy or sell the same securities on the same day, and that DiJulio additionally did not mark any of the transactions as discretionary and instead mismarked the transactions as unsolicited.
The report also states that none of DiJulio's customers provided written authorization for discretionary trading in their accounts and that NBC Securities had not accepted the accounts as discretionary.
Investigators uncovered two instances of relevant disciplinary history involving Brian DiJulio. In 1991, the State of Washington Department of Licensing suspended DiJulio for unauthorized trading and unsuitable recommendations while in 1992, NASD fined and suspended DiJulio for unauthorized transactions and unauthorized use of margin.
While no regulator appears to have disciplined DiJulio between 1992 and 2019, in 2004, a customer alleged unauthorized, excessive and unsuitable trading by DiJulio, ultimately settling this dispute for $105,000.
NBC Securities permitted DiJulio to resign in November 2018 after allegations that he executed transactions that were not authorized by his client.
If you have invested with former NBC Securities broker Brian Gregory DiJulio or with any investment adviser or registered representative who has exercised discretion to effect unsuitable transactions or whose unauthorized trades in your account have proven harmful to your financial interests, please call our experienced FINRA arbitration attorneys at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.