Did you lose money investing with Lillian DeGasperis (a/k/a Lee Amato, Lillian Amato, Lee DeGasperis) (CRD# 2363667)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Lillian DeGasperis (a/k/a Lee Amato, Lillian Amato, Lee DeGasperis). If you suffered losses investing with Lillian DeGasperis (a/k/a Lee Amato, Lillian Amato, Lee DeGasperis), then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of June 22, 2020, Lillian DeGasperis (a/k/a Lee Amato, Lillian Amato, Lee DeGasperis)’s FINRA BrokerCheck Report contains the following:
SUSPENDED: FINRA has suspended this individual from acting as a broker. Please see the detailed report for more information.
Disclosure Events
1 Regulatory Event(s)
UPDATE 6/22/2020: According to FINRA’s June 2020 Disciplinary Actions: Lillian DeGasperis (CRD #2363667, Ramsey, New Jersey) April 16, 2020 – An AWC was issued in which DeGasperis was suspended from association with any FINRA member in all capacities for two months. In light of DeGasperis’ financial status, no monetary sanction has been imposed. Without admitting or denying the findings, DeGasperis consented to the sanction and to the entry of findings that she failed to amend her Form U4 to disclose certain material information that she was required to disclose. The findings stated that DeGasperis did not disclose the events to anyone at her member firm until she learned that the firm would be running a background check in connection with her promotion, even though the firm’s written policies and procedures required her to report the events to it immediately upon learning about them. After DeGasperis disclosed the events to the firm, it terminated her employment. The findings also stated that DeGasperis responded falsely to a firm compliance questionnaire and a firm attestation that asked whether certain reportable events had occurred and also reminded her of her reporting obligations. The suspension is in effect from May 18, 2020, through July 17, 2020. (FINRA Case #2018060306301)
Current and Previous Registrations
11/25/2015 – 10/29/2018 WELLS FARGO CLEARING SERVICES, LLC (CRD#:19616) PARAMUS, NJ
01/15/2009 – 08/25/2015 LPL FINANCIAL LLC (CRD#:6413) WOODCLIFF LAKE, NJ
04/02/2007 – 07/16/2008 MORGAN STANLEY & CO. INCORPORATED (CRD#:8209) RIDGEWOOD, NJ
05/01/1998 – 04/02/2007 MORGAN STANLEY DW INC. (CRD#:7556) RIDGEWOOD, NJ
04/03/1996 – 04/23/1998 PAINEWEBBER INCORPORATED (CRD#:8174) WEEHAWKEN, NJ
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Lillian DeGasperis (a/k/a Lee Amato, Lillian Amato, Lee DeGasperis) and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
