According to FINRA’s Disciplinary and Other FINRA Actions publication, from July 2013 through January 2014 broker Steven Colacurcio (CRD# 1717483) of Boca Raton Florida was fined and suspended by FINRA as a result of allegations that he exercised discretionary power in a customer’s account, without obtaining prior written authorization from the customer and without having the account accepted as a discretionary account by his employing FINRA member firm Dawson James Securities. As a result of such conduct, FINRA alleged that Colacurcio violated NASD Rule 2510(b) and FINRA Rule 2010.

NASD Rule 2510(b) provides that registered persons may not exercise discretionary power in a customer’s account unless the customer has given prior written authorization and the account has been accepted by the member firm in writing as a discretionary account.

FINRA alleged that Colacurcio exercised discretionary power in a customer’s account by effecting 11 transactions, without obtaining prior written authorization from the customer and without having the account accepted as a discretionary account by his employing FINRA member firm Dawson James Securities.

As a result of such conduct, Cotacurcio consented to FINRA’s imposition of a fifteen (15) business day suspension from association with any FINRA member in all capacities and a $5,000 fine.

According to FINRA’s Broker Check, Steven Colacurcio was registered with the securities industry for 27 years, and was registered with the following firm(s):

Dawson James Securities Inc.
CRD# 130645
6/2009- Present

Raymond James Financial Services, Inc.
CRD# 6694
6/2008 – 3/2009

Suntrust Investment Services, Inc.
CRD# 17499
6/2004 – 03/2008

Wachovia Securities, LLC
CRD# 19616
02/2002 – 06/2004

WM Financial Services, Inc.
CRD# 599
05/1998 – 03/2002

Great Western Financial Securities Corp.
CRD# 14229
01/1992 – 05/1998

G.K. Scott & Co., Inc.
CRD# 3305
01/1998 – 02/1991

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