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Investors Allege Michael Esposito Omitted Information About Fixed Annuity

Michael Esposito (CRD #: 3164724), a broker registered with Securities America, allegedly failed to inform his clients, according to his BrokerCheck record, accessed on August 21, 2022. Investors may also have engaged his services through Securities America Advisors. Keep reading to learn more about his conduct as a broker.

Investor Dispute

On May 2, 2022, several investors filed a dispute alleging that Michael Esposito failed to disclose surrender fees associated with the exchange of a fixed annuity. This dispute is pending.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent tactics to influence investors’ decisions. This includes omitting information, such as an investment’s fees, limitations, or risks.

Background Information

Michael Esposito has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 65 – Uniform Investment Adviser Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 24 – General Securities Principal Examination
  • Series 26 – Investment Company Products/Variable Contracts Principal Examination

Michael Esposito is a registered broker in Florida, Georgia, New Jersey, and New York. He is also a registered investment adviser in New Jersey.

He has also worked for Hornor, Townsend & Kent (CRD#: 4031) and 1717 Capital Management Company (CRD#: 4082).

Kurta Law Can Help

If you worked with Michael Esposito 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. 

 

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