- Cigna Securities, Inc. (1986-1987)
- FSC Securities Corporation (1987-1991)
- Guardian Investor Services Corporation (1991-1992)
- Linsco/Private Ledger Corp. (1992-1999)
- Securities Service Network, Inc. (1999-2001)
- Comprehensive Asset Management and Servicing, Inc. (2002-2013)
- Fortune Financial Services, Inc. (2013-2017)
1991: Employment Separation after Allegations
- Allegation: Violation of firm policy regarding an insurance related bank account
- Termination Type: Permitted to Resign
2000: Customer Dispute
- Allegation: Failure to disclose surrender charges
- Settlement Amount: $14,122.62
2001: Customer Dispute
- Allegation: Client alleges the representative made unsuitable recommendations involving 1035 Exchanges of variable annuities and the purchase of B-share mutual funds.
- Settlement Amount: $21,236.34
- Allegation: Felony Fraud
2001: Customer Dispute
- Allegation: Misrepresentation & Omissions; Breach of Fiduciary Duty; Violation of NASD rules; Negligence; Failure to Supervise. In 2015 [Redacted], a long time Giokas Wealth Advisors client, purchased a Variable Annuity from Giokas. Fortune Financial reviewed and approved the sale as suitable. The client engaged Giokas Wealth Advisors, an unaffiliated RIA, to manage the subaccount using an active management strategy. The client lost market value while at the same time paying management fees. The strategy and fees were disclosed in the RIA documentation. Fees were paid to Giokas Wealth Advisors.
- Damage Amount Requested: $332,826.00
2018: Regulatory Action Initiated By FINRA
- Allegation: Unsuitability, Common Law Fraud, Breach of Contract, Negligent Supervision, and Breach of Fiduciary Duty
- Damage Amount Requested: $319,939.00
2018: Customer Dispute
- Allegations: Without admitting or denying the findings, Giokas consented to the sanction and to the entry of findings that he refused to provide certain information and documents requested by FINRA in connection with an amended Form U5 filed by his member firm, which stated that he had been charged with one count of felony fraud.
- Resolution: Acceptance, Waiver, and Consent
- Sanctions: Bar
- Registration Capacities Affected: All Capacities
- Duration: Indefinite
- Start Date: 3/23/2018
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