ALBERT JOSEPH DELUCA is currently employed as a Broker and/or Investment Adviser at MOORS & CABOT, INC. located at 111 DEVONSHIRE ST, BOSTON, MA, 02109.
ALBERT JOSEPH DELUCA has worked at MOORS & CABOT, INC. since May 25, 2018
Disclosure History
ALBERT JOSEPH DELUCA has 4 Disclosure Event(s).
Date: June 10, 2010 Category: Customer Dispute Allegations: CLIENT ALLEGED FAILURE TO FOLLOW INSTRUCTIONS WITH RESPECT TO THE LIQUIDATION OF INVESTMENTS. MAY 2010. DAMAGES UNSPECIFIED. Settlement Amount: $14,450.00
Date: July 28, 2004 Category: Customer Dispute Allegations: ALLEGING SUITABILITY
Date: April 07, 1997 Category: Customer Dispute Allegations: CLIENT ALLOWED HER HUSBAND TO BORROW MONEYFROM HER IRA ACCOUNT. CLIENT VERBALLY COMPLAINED THAT HER FCHAD AGREED TO MONITOR HER HUSBAND`S ACCOUNT SO THAT THE LOANWOULD BE FULLY REPAID TO HER ACCOUNT. THE FIRM, FOR BUSINESSREASONS, ELECTED TO SETTLE THIS MATTER. THE FC DID NOT ASSENTTO THE SETTLEMENT. Settlement Amount: $39,000.00 Broker Comment: SETTLED FOR $39,000NO OPTIONS OR COMMODITIES INVOLVED CONTACT HUGH MCGOVERN (212) 816-0224
Date: January 31, 1986 Category: Customer Dispute Damage Amount Requested: $19,897.57 Settlement Amount: $10,000.00 Broker Comment: THE FOLLOWING COMPLAINT, SUBMITTED FOR NASD ARBITRATION ON FEBRUARY 5, 1986: [CUSTOMER], CLAIMANT, VS. MERRILL LYNCH, PIERCE, FENNER & SMITH, INC. AND ALBERT J. DELUCA, RESPONDENTS." THE STATEMENT OF CLAIM ALLEGEDTHE FOLLOWING: ON OR ABOUT OCTOBER 27, 1983, [CUSTOMER] OPENED AN ACCOUNT WITH MERRILL LYNCH THROUGH DELUCA. HE TRANSFERRED APPROXIMATELY $116,356.50 TO THE ACCOUNT, ALL OF WHICH WAS PLACED IN A CMA MONEY FUND. [CUSTOMER] SPECIFICALLY INSTRUCTED DELUCA THAT AT LEAST $30,000 WAS TO REMAIN IN THE CMA FUND AT ALL TIMES. DELUCA USED A PORTION OF THESE FUNDS TO PURCHASE SECURITIES FOR THE ACCOUNT, PURSUANT TO [CUSTOMER'S] INSTRUCTIONS. AS OF DECEMBER 30, 1983, $31,772 REMAINED IN THE CMA FUND, IN ACCORDANCE WITH [CUSTOMER'S] INSTRUCTIONS. DELUCA DID NOT HAVE DISCRETIONARY AUTHORITY. BETWEEN DECEMBER 30, 1983 AND JANUARY 27, 1984, WITHOUT AUTHORIZATION AND WITHOUT CONSULTING [CUSTOMER],DELUCA TOTALLY DEPLETED [CUSTOMER'S] CMA FUND AND USED THESE FUNDS TO PURCHASE 500 SHARES OF MA COM, INC., 500 SHARES OF VERBATIM CORP., AND 500 SHARES OF WANG LABS, FOR A TOTAL COST OF $40,000. ALSO WITHOUT CONSULTING [CUSTOMER], DELUCA EXTENDED MARGIN CREDIT TO FINANCE A PORTION OF THESE TRANSACTIONS, RATHER THAN SELLING SOME OF [CUSTOMER'S] EXISTING STOCK HOLDINGS. IN FEBRUARY 1984, [CUSTOMER] LEARNED OF THESE UNAUTHORIZED ACTS. HE NOTIFIED DELUCA OF HIS DISAPPROVAL AND ASKED DELUCA TO CURE THE LOSS WHICH HADBEEN CAUSED BY THE ACTS. DELUCA ACKNOWLEDGED HIS BREACH OF DUTY TO [CUSTOMER] AND RECOMMENDED THAT [CUSTOMER'S] DAMAGES WOULD BE INCREASED IF HE RESCINDED THE PURCHASE OF THE SUBJECT SECURITIES AND THAT [CUSTOMER'S] DAMAGES WOULD BE CURED BY HOLDING THE SUBJECT SECURITIES, WHICH DELUCA REPRESENTED WOULD GO UP IN VALUE. PURSUANT TO THIS ADVICE, [CUSTOMER] HELD ON TO THE SUBJECT SECURITIES UNTIL *SEE FAQ #1*
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