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Franco Dimaio Settles an Investor Dispute

Franco Dimaio (CRD #: 2895690), a broker registered with UBS Financial Services, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on November 17, 2023. Keep reading if you have questions about his alleged conduct. 

On August 9, 2023, a customer alleged Franco Dimaio failed to inform them of the lack of eligibility for rollovers when withdrawing funds from an inherited IRA. The investor sought $100,000 and the dispute settled for $70,000. 

FINRA Rule 2020 – Misrepresentation and Omission 

FINRA Rule 2020 prohibits the misrepresentation of investments or omission of material facts. Omitting information about the eligibility for rollovers is an omission of material facts. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 2020 also violate this rule. 

Background Information 

Franco Dimaio has passed the following exams: 

  • Series 66 Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 

He is a registered broker in 18 states and is a registered investment adviser in New Jersey and Texas. 

During his 23 years of experience, he has registered with two firms: 

  • UBS Financial Services (CRD #: 8174) 
  • Merrill Lynch, Pierce, Fenner, & Smith (CRD #: 7691) 

Kurta Law Can Help

If you worked with Franco Dimaio and 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.

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