Angelo J. Piccone

01/29/2025: Between November 2020 and February 2021, while associated with IBN, Piccone recommended that a retail customer invest 77% of her net worth, not including her primary residence, in speculative alternative investments. Piccone’s recommendations to the customer were not in the customer’s best interest based on her investment profile. Therefore, Piccone willfully violated Rule 15l-1(a)(1) of the Securities Exchange Act of 1934 (Reg BI) and violated FINRA Rule 2010. From April 2021 to June 2022, Piccone used his personal mobile device to exchange text messages with the customer to conduct securities business. In one of those communications, Piccone made an unbalanced, promissory and misleading statement to the customer regarding the prospects for recovery related to one of her investments. Because Piccone used an unapproved channel for business-related communications, IBN was unable to preserve those communications as required by Section 17(a) of the Exchange Act and Rule 17a-4(b)(4) thereunder...

Reference 2022076855802data-portal.finra.orgfinra.org