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Investor Alleges Nicholas Catania Engaged in Misappropriation

Mar 3, 2023 Misappropriation

Nicholas Catania (CRD #: 2792998), a broker registered with UBS Financial Services, was recently the subject of an investor dispute, according to his BrokerCheck record, accessed on February 22, 2023. If you have questions about his alleged conduct as a broker, read on.

Investor Disputes

On December 28, 2022, an investor filed a dispute alleging that Nicholas Catania engaged in the misappropriation of funds from the client’s account from March 14 to December 27, 2022. This dispute was denied by the firm.

On November 3, 2020, a trustee alleged that Nicholas Catania failed to liquidate an investment as requested on December 19, 2019, and that delays in liquidation led to losses in the account. The trustee additionally alleged that Nicholas Catania mismanaged his account. The trustee sought $110,820 in damages but the firm denied the dispute.

However, investors should know that firms can deny disputes without an outside review. Investors can still seek out FINRA arbitration and potentially recover their losses following a denial.

FINRA Rule 2150

FINRA Rule 2150 forbids brokers from misusing investors’ funds.

FINRA Rule 2010

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

Background Information

Nicholas Catania has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination

Nicholas Catania is a registered broker in 24 states and the District of Columbia. He is also a registered investment adviser in Florida and Texas.

He has also worked for Morgan Stanley & Company (CRD#:8209) and Morgan Stanley (CRD#:7556).

Kurta Law Can Help

If you worked with Nicholas Catania and you have concerns about your investments, please contact us today at 877-600-0098 or 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.