Michael DiPietro Allegedly Misrepresented Speculative Investments

Michael DiPietro (CRD #: 2811047), a broker registered with Centaurus Financial, allegedly engaged in misrepresentation, according to his BrokerCheck record, accessed on June 26, 2023. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On April 14, 2023, multiple investors filed a dispute alleging that Michael DiPietro misrepresented speculative, high-risk investments. They seek $100,000 in damages in this pending dispute.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deceptive, manipulative, and otherwise fraudulent tactics to influence investors’ decisions. Misrepresenting an investment’s fees, risks, requirements, or other relevant information violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must take into account an investor’s risk tolerance, age, and other information described in their profile.1

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

Background Information

Michael DiPietro has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• Series 7 – General Securities Representative Examination
• SIE – Securities Industry Essentials Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination
• Series 2 – Non-Member General Securities Examination
• Series 26 – Investment Company Products/Variable Contracts Principal Examination

Michael DiPietro is a registered broker and a registered investment adviser in California.

He has also worked for the following firms:

• Transamerica Financial Advisors (CRD#:16164)
• First Allied Securities (CRD#:32444)
• Royal Alliance Associates (CRD#:23131)
• World Group Securities (CRD#:114473)
• WMA Securities (CRD#:32625)

Kurta Law Can Help

If you worked with Michael DiPietro 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.