Investment Loss Options for Clients of Cadaret, Grant & Co., Inc. Broker Yvonne Nirelli
Posted on Wednesday, November 18th, 2020 at 9:24 pm
There are options for clients of Cadaret, Grant & Co., Inc. broker Yvonne Nirelli (CRD# 1364313) who suffered investment losses. Nirelli has been registered with Cadaret, Grant & Co., Inc. in Canastota, New York since 1989.
In September 2020, FINRA sanctioned Nirelli to a $5,000 civil and administrative penalty and fine, and suspended him for 15 days after he consented to the sanctions and to the entry of findings that she exercised discretion without written authorization in customer accounts. The findings stated that although the customers knew that Nirelli was exercising discretion in their accounts, she did not have prior written authorization to do so from any of the customers. Additionally, her member firm had not approved any of the accounts for discretionary trading.
Nirelli has been the subject of one customer complaint, according to her CRD report:
July 2019. “Client is alleging misrepresentation.” The customer is seeking $200,000 in damages and the case is currently pending. The complaint was regarding fixed annuity investment losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Cadaret, Grant & Co., Inc. may be liable for investment or other losses suffered by Nirelli’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.