FINRA recently announced that Jamik Jamar Ligon, formerly of Merrill Lynch, Pierce, Fenner & Smith, Incorporated in Jersey City, New Jersey, and Rocco Anthony Mongelli, of Peak Securities Corporation in Largo, Florida, were fined and suspended by FINRA.
Ligon was fined $7,500 and suspended from association with any FINRA member in any capacity for two months. Mongelli was fined $10,000 and suspended from association with any FINRA member in any capacity for three months. Without admitting or denying the findings, Ligon and Mongelli consented to the entry of findings that Ligon paid Mongelli a $50,000 referral compensation fee when Mongelli referred brokerage customers to Ligon because he was not registered to do business in the states of residence for those referred customers, and Ligon subsequently served as the registered representative for the accounts.
According to Jamik Ligon’s FINRA Broker Report (CRD), prior to working for Merrill Lynch, Ligon was a registered representative (financial advisors) with Franklin Ross, Inc. and Fordham Financial Management, Inc. According to Rocco Mongelli’s FINRA Broker Reports (CRD), prior to working at Peak Securities Corporation, Mongelli was a registered representative (broker) with Franklin Ross, Inc. and VFinance Investments, Inc.
If you have questions about investments you made with Ligon, Mongelli, Merrill Lynch or Peak Securities, or if you believe that you have been the victim of a securities fraud, The White Law Group may be able to help. To speak to a securities attorney, please call our Chicago office at 312-238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, visit https://whitesecuritieslaw.com.Tags: broker fraud, FINRA, Florida, investment losses, investor protection, Jacksonville, Jamik Ligon, Largo, Merrill Lynch, NASD, Peak Securities, Rocco Mongelli, securities arbitration, Securities Attorney, Securities Lawyer, Tallahassee, Tampa Last modified: December 5, 2022