Paul Petrillo, Formerly of Thrivent Investment Management, Barred by FINRA Following Allegations of Selling Away and Undisclosed Private Securities Transactions

Petrillo also provided a false response to a request for information by FINRA while investigating his actions.

The Sonn Law Group is investigating allegations that Paul Petrillo committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Paul Petrillo (CRD#: 2212735) accepted sanctions in the form of being barred from the FINRA industry and consented to the entry of findings that he placed discretionary orders to purchase or sell securities in customers outside security accounts.

Petrillo did this without notifying his member firm of his authority to do so or the executing firm of his association with his firm.

The findings stated that Petrillo also opened a family trust securities account over which he had trading authority away from his firm but did not notify it of the account’s existence. 

FINRA’s findings also stated that Petrillo participated in undisclosed private securities transactions. Petrillo participated in the undisclosed private securities transactions when he placed orders to purchase or sell securities in customers’ outside securities accounts without notifying his firm. 

The findings also included that Petrillo provided a false response to a request for information made by FINRA. During the course of its investigation, FINRA asked Petrillo to identify any customers’ accounts in which he traded away from his firm, aside from one customer about whom FINRA already knew and in whose account he had previously admitted to trading.

Petrillo deliberately failed to inform FINRA about customers’ accounts in which he affected trades away from his firm.

In October of 2017, Petrillo was named in a customer dispute where the customer alleged that he placed trades in her non-Thrivent account without her permission. $33,474.25.

Contact Us Today

The Sonn Law Group is currently investigating allegations that Paul Petrillo committed violations of FINRA Rules. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.