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Michael Digioia Suspended by FINRA

Michael Digioia (CRD #: 4073951) (a.k.a. Mike Ross) is the subject of an indefinite FINRA suspension. This is according to his BrokerCheck record, accessed on December 12, 2023. Investors should take note of his previous regulatory award – keep reading for more details. 

On September 27, 2023, FINRA suspended Michael DiGioia following allegations that he failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. 

The Award states that Michael Digioia is liable for $150,000 in compensatory damages following allegations of a breach of FINRA rules related to the purchase of stocks in Nostrum Holdings. 

On May 19, 2021, an investor alleged that Michael Digioia recommended unsuitable investments. FINRA Rule 2111 requires brokers to consider factors like an investor’s age, risk tolerance, and financial goals when recommending investments. Investments that do not take these factors into account may be unsuitable

You can read a copy of the Award here

Felony Criminal Charges

On January 17, 2019, Michael Digioia was charged with the assault of a victim 65 or older. He pled guilty to reduced charges of disorderly conduct. 

Background Information 

Michael Digioia has passed the following exams: 

  • Series 63 Uniform Securities Agent State Law Examination 
  • Series 57TO Securities Trader Exam 
  • SIE – Securities Industry Essentials Examination 
  • Series 55 Limited Representative-Equity Trader Exam 
  • Series 7 General Securities Representative Examination
  • Series 24 General Securities Principal Examination

During his 19 years of experience, he has registered with 11 firms: 

  • Lamppost Capital (CRD #: 43706) 
  • Arive Capital Markets (CRD #: 8060) 
  • Vision (CRD #: 47927) 
  • Rothschild Lieberman (CRD #: 10030) 
  • Quasar Trading (CRD #: 151974) 
  • Legend Securities (CRD #: 44952) 
  • Legend Trading (CRD #: 150567) 
  • Gunnallen Financial (CRD #: 17609) 
  • (CRD #: 47883) 
  • Terra Nova Trading (CRD #: 37761) 
  • (CRD #: 42071) 

Kurta Law Can Help 

If you have worked with Michael DiGioia and have concerns about your investments, do not hesitate to contact us 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 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.


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