Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Peter Glowacki (Glowacki), previously associated with Tcfg Wealth Management, LLC, has at least one disclosable event. These events include one tax lien, alleging that Glowacki recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on November 21, 2024.
Without admitting or denying the findings, Glowacki consented to the sanctions and to the entry of findings that he exercised discretionary authority when placing 105 trades in accounts belonging to nine customers without first obtaining prior written authorization from the customers and having the accounts accepted as discretionary by his member firms. The findings stated that Glowacki discussed his trading with the customers generally, he did not speak with the customers about the specific trades on the dates of the transactions. The findings also stated that Glowacki used an unapproved channel for securities-related communications. Glowacki communicated about securities business via text message from his personal cell phone with firm customers, including confirming executed trades, discussing investment ideas and recommendations, accepting orders, and transferring funds. Glowacki did not provide those text messages to his firm for review or retention and caused the firm to maintain incomplete books and records.
