Investors Allege David Sosa Misrepresented Investments

David Sosa (CRD #: 2447013), a broker registered with Cetera Investment Services, allegedly misrepresented investments, according to his BrokerCheck record, accessed on June 2, 2025. Investors may have also worked with him through Cetera Investment Advisers. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On April 16, 2025, an investor filed a dispute against David Sosa alleging that he misrepresented an investment. This dispute is pending.

A pending dispute filed on March 17, 2025, alleged that David Sosa recommended unsuitable investments. The client seeks $98,500 in damages.

On February 13, 2025, multiple investors filed a dispute alleging that David Sosa misrepresented an unsuitable investment product. The firm denied the dispute.

In a dispute filed on December 2, 2024, an investor alleged that David Sosa executed unauthorized purchases of structured products. This dispute was denied by the firm.

However, investors should be aware that firms can deny disputes without allowing an outside review. You may still be able to recover your losses by pursuing FINRA arbitration following a denial.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of manipulation, deception, and other fraudulent methods to influence the purchase and sale of securities. Misrepresenting an investment’s risks, fees, potential returns, or other features violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consider the information in the investor’s profile, such as their risk tolerance, age, tax status, and overall financial situation when recommending investments.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

FINRA Rule 3260

FINRA Rule 3260 prohibits brokers from conducting discretionary trading outside discretionary accounts, which are pre-approved for discretionary trading by the firm and the client.

FINRA Rule 2010

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

What are Structured Products?

Structured products are a type of financial product that combine the features of a bond with a derivative component, like swaps, futures, or options. The returns investors receive depend on the performance of this derivative component.

Because of the complexity of structured products, it’s vital for investors to understand their features and risks before buying in.

Background Information

David Sosa has passed the following exams:

• General Securities Representative Examination – Series 7TO
• Investment Company Products/Variable Contracts Representative Examination – Series 6TO
• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Combined State Law Examination – Series 66
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

David Sosa is a registered broker in six states and a registered investment adviser in Florida.

He has also worked for the following firms:

• Citicorp Investment Services (CRD#:23988)
• WM Financial Services (CRD#:599)
• First Union Brokerage Services (CRD#:8112)
• Citicorp Investment Services (CRD#:23988)
• Chatfield Dean & Company (CRD#:14714)

Kurta Law Can Help

If you worked with David Sosa 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 that 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.