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James Ciocia Involved in Second Suitability Dispute in 2021

James Ciocia (CRD #:1619245), a registered broker with Cetera Financial Specialists, is involved in an investor dispute, according to his BrokerCheck record, accessed on November 8, 2021. He is also a registered investment advisor with Cetera Investment Advisers. 

Investor Allegations 

On September 23, 2021, an investor filed a dispute against James Ciocia, alleging he recommended an unsuitable investment strategy. The damage amount requested is $200,000 and the case is still pending.   

On January 29, 2021, James Ciocia was also involved in another suitability dispute. This case is also still pending, and the damage amount requested is $100,000. 

FINRA Rule 2111 requires investment professionals to take into account their customers’ financial profiles before recommending trades. Financial profiles include information about the investor’s risk tolerance, financial goals, investing experience, and age.  

A broker must have exercised due diligence to research an investment product and an adequate reason for believing that an investment will also be suitable or beneficial. Under FINRA Rule 211, registered brokers may be held liable if they provide an unsuitable investment recommendation or strategy that leads to losses. 

James Ciocia Background Information 

James Ciocia has passed the following exams: 

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

James Ciocia is a registered broker in 17 states. He is a registered investment advisor in Florida and Texas. 

James Ciocia has worked with the following firms: 

  • Cetera Financial Specialists (CRD #: 10358)  
  • Cetera Investment Advisers (CRD #: 105644) 
  • National Asset Management (CRD #: 115927) 
  • National Securities Corporation (CRD #: 7569)  
  • Asset & Financial Planning (CRD #: 110709)  
  • Prime Capital Services (CRD #: 18334)  
  • JT Securities (CRD #: 33850)  
  • Royal Alliance Associates (CRD #: 23131)  
  • Integrated Resources Equity Corporation (CRD #: 6403)  
  • The Equitable Life Assurance Society of the United States (CRD #: 4039) 
  • Equico Securities (CRD #: 6627)  
  • Life Planning (CRD #: 13358)  

Kurta Law Can Help 

If you have worked with James Ciocia and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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.