Hanley Law is currently investigating claims against Peter Bruno (CRD No.: 1180960) and Wall Street Money Center Corporation (CRD No.: 21788). The Hanley Law recently filed FINRA Arbitration claims on behalf of Claimants in which it was alleged that Wall Street Money Center Corp. and Peter Bruno invested Claimants’ accounts unsuitably and further used a fee structure that was fraudulent. Furthermore, Claimants allege Bruno did not disclose to Claimants a fraudulent transaction fee. Indeed, it is alleged that Wall Street Money Center Corp. and Peter Bruno misinformed Claimants that they were passing on a clearing fee from their clearing firm Sterne Agee and Leach. It was further alleged that Wall Street Money Center Corp. and Peter Bruno failed to recommend and implement a suitable investment strategy for Claimants’ accounts in breach of their duty and obligations to Claimants under industry rules and regulations. Claimants allege that Respondent, Wall Street Money Center Corporation through their registered representative Peter Bruno, informed Claimants that they would meet their investment objectives. It has been alleged that Wall Street Money Center Corp. and Peter Bruno invested Claimants’ accounts contrary to their stated objectives and risk tolerance. Claimants allege that due to Wall Street Money Center Corp. and Peter Bruno’s misconduct, Claimants have suffered out-of-pocket losses for which they seek a recovery.
In the recently filed arbitration claims, the Claimants alleged that Respondent, Wall Street Money Center Corporation through its registered representative Peter Bruno, violated industry rules, including but not limited to, FINRA’s customer suitability standard (Rule 2310) as well as FINRA rules 3010 and 2110 and that Wall Street Money Center Corp. and Peter Bruno violated their duty of care and were negligent. Furthermore, it has been alleged that Wall Street Money Center Corp. and Peter Bruno breached the contract that was entered into between Claimants and Wall Street Money Center Corp. and Peter Bruno and that Wall Street Money Center Corp. and Peter Bruno also breached the fiduciary duty that a securities firm and its employees/agents owe to their clients. Lastly, it has been alleged that Wall Street Money Center Corp. and Peter Bruno’s misconduct constitutes common law fraud and that the Claimants’ accounts at issue were handled negligently and Wall Street Money Center Corporation was negligent in their hiring, retention, and supervision of their employees.
If you were a client of Peter Bruno or Wall Street Money Center Corporation and have suffered investment losses, please contact the Hanley Law to explore your legal rights. The Hanley Law is dedicated to helping investors who have been victims of securities fraud. If you have lost money as a result of securities fraud, you may be able to recover your financial losses. Contact us today toll free at (239) 649-0050 for a free initial consultation.
