Jack Joseph Mangiafico (CRD #7217590) Has an Employment Separation Disclosure on FINRA BrokerCheck

Jack Joseph Mangiafico (CRD #7217590) was previously registered as a broker. We reviewed his BrokerCheck report on March 12, 2026. It reflects one employment separation after allegations disclosure. If you worked with Jack Joseph Mangiafico and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Employment Separation After Allegations

Jack Mangiafico’s FINRA BrokerCheck Report reflects one employment separation after allegations disclosure. A summary of the disclosure is below:

On January 21, 2026, Raymond James Financial Services, Inc. discharged Jack Mangiafico. Jack Mangiafico’s FINRA BrokerCheck report says he was alleged to have effected trades in a customer account that were inconsistent with Regulation T and the firm’s cash account standards. BrokerCheck lists the product type as listed equity securities.

Rule Summary #1: FINRA Rule 4210 (Margin Requirements)

FINRA Rule 4210 sets margin requirements for securities accounts and addresses how firms handle equity positions. Trading that is described as inconsistent with Regulation T or cash account standards can raise questions about whether account controls were followed.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 requires associated persons and firms to observe high standards of commercial honor and just and equitable principles of trade. When a firm reports trading activity as inconsistent with account standards, that can raise concerns under this rule.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Jack Mangiafico:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam. Jack Mangiafico has also passed Series 7TO, Series 65, and Series 63.

Was previously registered with firms that include Raymond James Financial Services, Inc. and Kovack Securities Inc.

Kurta Law Can Help

If you have worked with Jack Mangiafico and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | What Is Securities Fraud?

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.