Investor Alleges David Sosa Executed Unauthorized Securities Purchases

David Sosa (CRD #: 2447013), a broker registered with Cetera Investment Services, allegedly executed unauthorized trades, according to his BrokerCheck record, accessed on January 11, 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

In a dispute filed on December 2, 2024, an investor alleged that David Sosa executed unauthorized purchases of structured products. This dispute is currently pending.

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.