Investment advisor Leon William Vaccarelli, currently a registered representative of The Investment Center, Inc. (“TIC”) in Waterbury, Connecticut, recently accepted a suspension and fine from FINRA relating to unauthorized trading in customer accounts.
According to the Letter of Acceptance, Waiver and Consent (“AWC”) Vaccarelli entered into with FINRA, “At various times from 2011 through 2015, while registered with TIC, Vaccarelli exercised discretion in four customers’ accounts. Vaccarelli exercised discretion notwithstanding the fact that he did not have written authorization from the customers to place discretionary trades. Moreover, TIC had not approved and accepted the accounts as discretionary.”
Vaccarelli agreed to a one-month suspension from the industry and a $7,500 fine relating to the unauthorized trading allegations.
Vaccarelli has been with TIC since February 2011, according to his FINRA BrokerCheck report. He was previously registered with Ameriprise Financial Services, Inc. in Middlebury, Connecticut, from August 1999 until May 2007 and with QA3 Financial Corp. in Waterbury, Connecticut, from May 2007 until he joined TIC.
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