Dominick Diorio Allegedly Engaged in Excessive and Unauthorized Trading

Dominick Diorio (CRD #: 2447817), a broker registered with Aegis Capital Corporation, allegedly violated several FINRA rules, according to his BrokerCheck record, accessed on March 2, 2023. If you want to know more about his alleged conduct as a broker, read on.

Investor Dispute

On December 15, 2022, an investor alleged that Dominick Diorio executed unauthorized trades, made misrepresentations and omission of material facts, engaged in churning and other violations of the suitability rule, breached his contract, and engaged in negligence.

The investor alleged that this misconduct took place between December 2012 and June 2022. They seek $62,468 in damages in this pending dispute.

FINRA Rule 3260

Unauthorized trading violates FINRA Rule 3260, which limits brokers to exercising their trading discretion in pre-approved discretionary accounts.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of deception, manipulation, and other fraudulent methods of influencing the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must take into account an investor’s age, risk tolerance,  tax status, and other information contained in their profile.

Churning is another term for excessive trading, which violates this rule by being quantitatively unsuitable. An excessive number of trades in a short time quickly generates fees and commissions that reduce clients’ returns. 

Investors who rely on brokers for investment recommendations or trading discretion can potentially recover their losses by pursuing FINRA arbitration.

FINRA Rule 2010

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

What is broker negligence?

Brokers may act in many negligent ways. Common examples include misrepresentations or omissions of fact, unsuitable investment recommendations, and failure to supervise other brokers.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by seeking out FINRA arbitration.

Background Information

Dominick Diorio has passed the following exams:

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

Dominick Diorio is a registered broker in 42 states.

In the past, he has also worked for the following firms:

• Global Arena Capital Corporation (CRD#:16871)
• Prestige Financial Center (CRD#:30407)
• S.W. Bach & Company (CRD#:43522)
• Harrison Securities (CRD#:14103)
• Weatherly Securities Corporation (CRD#:11081)
• Tasin & Company (CRD#:30709)
• Duke & Company (CRD#:8035)
• Joseph Stevens & Company (CRD#:35459)
• Landmark International Equities (CRD#:25098)

Kurta Law Can Help

If you worked with Dominick Diorio 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.