Joe Appolito Allegedly Violated California Securities Law

Joe Appolito (CRD #: 6698), a broker registered with Commonwealth Financial Network, allegedly violated state securities law and several FINRA rules, according to his BrokerCheck record, accessed on November 16, 2022. Read on to learn more about his conduct as a broker.

Investor Dispute

On September 15, 2022, an investor alleged that Joe Appolito committed the following forms of misconduct:

• Breach of contract
• Unspecified violations of suitability
• Material misrepresentations and omissions
• Violation of California securities law
• Violation of FINRA Rules 2010, 2020, and IM-2310-2

The client seeks $300,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles describe investor characteristics, including age, tax status, and risk tolerance.

Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

FINRA Rule 2020

The misrepresentation or omission of material facts related to investments violates FINRA Rule 2020, which bans the use of manipulative, deceptive, or otherwise fraudulent tactics to influence the purchase and sale of securities.

FINRA Rule 2010

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

Background Information

Joe Appolito has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 1 – Registered Representative Examination
• F04 – Financial Principal Examination
• Series 00 – General Securities Principal Examination

Joe Appolito is a registered broker in 11 states and a registered investment adviser in Hawaii.

He has also worked for the following firms:

• Ameriprise Financial Services (CRD#:6363)
• United Planners’ Financial Services of America (CRD#:20804)
• Associated Planners Investment Advisory (CRD#:104790)
• Associated Securities CORP. (CRD#:12969)
• Wachovia Securities Financial Network (CRD#:11025)
• London Pacific Securities (CRD#:25089)
• American General Securities(CRD#:13626)
• First Affiliated Securities (CRD#:6871)
• Financial Planners Equity Corporation (CRD#:7420)
• University Securities Corporation (CRD#:6518)
• The Ralph S. Wilford Company (CRD#:701)

Kurta Law Can Help

If you worked with Joe Appolito 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.