Joseph Abbate recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). He allegedly, while registered with Wells Fargo, engaged in discretionary trading in five customer accounts without written authorization. He allegedly placed 100 securities transactions in five customers; accounts without first communicating with the customers about each transaction. This is against securities laws and internal firm rules. For this, he was fined $5,000 and suspended for 20 business days. According to his online BrokerCheck report with FINRA, Mr. Abbate was previously registered with Prudential Securities in New York, New York from June 1995 until July 2003 and Wells Fargo in Garden City, New York from July 2003 until August 2017. He has two customer disputes against him, and is not currently registered as a broker.
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