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John Pisapia is Involved in a Promissory Note Dispute

John Pisapia (CRD #: 2336216), a broker registered with Chelsea Financial Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on June 21, 2024. Investors should know that this is the fourth disclosure on his record. 

Investor Allegations 

On June 21, 2024, an investor named John Pisapia in a dispute regarding unsuitable promissory notes. The investor is seeking $500,000. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

  • Age
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status
  • Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 2111 also violate this rule. 

Background Information 

John Pisapia has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • Series 99TO Operations Professional Examination 
  • Series 79TO Investment Banking Registered Representative Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 
  • Series 14 Compliance Officer Examination 
  • Series 10 General Securities Sales Supervisor – General Module Examination 
  • Series 9 General Securities Sales Supervisor – Options Module Examination 
  • Series 53 Municipal Securities Principal Examination 
  • Series 27 Financial and Operations Principal Examination 
  • Series 8 General Securities Sales Supervisor Examination (Options Module & General Module)
  • Series 4 Registered Options Principal Examination 
  • Series 24 General Securities Representative Examination 

He is a registered broker in seven states and is a registered investment adviser in California. 

During his 30 years of experience, John Pisapia has registered with nine firms. These are the four most recent: 

  • Chelsea Financial Services (CRD #: 47770) 
  • Chelsea Advisory Services (CRD #: 150791) 
  • Royal Hutton Securities Corp (CRD #: 14489) 
  • Toluca Pacific Securities Corp. (CRD #: 13875)

Kurta Law Can Help 

If you have worked with John Pisapia and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com 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 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. Do not let securities fraud go unchecked. Start your recovery process today.