Peter Glowacki Suspended by FINRA for Alleged Unauthorized Trading

Peter Glowacki (CRD #: 1156214), a broker formerly registered with RBC Capital Markets, allegedly executed unauthorized trades, according to his BrokerCheck record, accessed on December 13, 2024. Keep reading to learn more about his alleged conduct as a broker.

Suspension by FINRA

On November 21, 2024, Peter Glowacki consented to the entry of findings that he allegedly exercised discretionary authority in 14 accounts belonging to nine clients without prior authorization from the investors or acceptance of the accounts as discretionary by his firms.

According to a Letter of Acceptance, Waiver & Consent (AWC), Peter Glowacki was allegedly associated with RBC Capital Markets and TCFG Wealth Management during the relevant period of January 2022 through December 2023. During this time, he allegedly placed 105 trades without the prior written authorization of his clients.

Further, the AWC alleged that Peter Glowacki used his personal cell phone for securities business communications with 12 RBC Capital Markets clients from December 2021 through January 2023, in violation of firm policy. These communications allegedly included trade confirmations, investment recommendations, and fund transfers. He allegedly also failed to provide these text messages to the firm for review or retention.

The AWC concluded that these allegations constituted violations of FINRA Rules 3260(b), 2010, and 4511 and Section 17(a) and Rule 17a-4(b)(4) of the Securities Exchange Act of 1934.

FINRA Rule 3260

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. Discretionary accounts must also be approved by the firm before this trading can occur.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 4511

FINRA Rule 4511 requires that firms maintain accurate books and records.

Securities Exchange Act of 1934

Section 17(a) of the Securities Exchange Act of 1934 defines the recordkeeping requirements for brokerage firms and other organizations.

Rule 17a-4(b)(4) of the Securities Exchange Act requires firms to preserve the originals of all communications received and copies of all communications sent in relation to its business.

Sanctions

Peter Glowacki consented to the following sanctions:

• 2-month suspension from associating with FINRA members
• $10,000 fine

His suspension began on December 2, 2024, and will end on February 1, 2025. You can read the full AWC here.

Termination from RBC Capital Markets

On February 21, 2023, Peter Glowacki was fired from RBC Capital Markets for allegedly violating firm policies related to order execution (including time and price discretion), electronic communications, and licensing and registration policies.

FINRA Rule 5310

FINRA Rule 5310 requires brokers to execute clients’ transactions promptly and to exercise due diligence in determining the best market for the transaction. 

Background Information

Peter Glowacki has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

He previously worked for the following firms:

• TCFG Wealth Management (CRD#:164153)
• RBC Capital Markets (CRD#:31194)
• Dain Rauscher (CRD#:7600)
• Smith Barney, Harris Upham & Company (CRD#:7059)

Kurta Law Can Help

If you worked with Peter Glowacki and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.