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Rick Caiazzo Facing Allegations of Unauthorized Trading

Dec 15, 2021 Unauthorized Trading

Rick Caiazzo (CRD #: 1228870), a broker formerly registered with Morgan Stanley, is involved in an investor dispute, according to his BrokerCheck record, accessed on November 11, 2021. Keep reading for more details. 

Investor Allegations  

On August 12, 2021, an investor filed a dispute against Rick Caiazzo alleging unauthorized trading. The damage amount requested is $170,000. The dispute is still pending.  

What is Unauthorized Trading?  

Unauthorized trading is a major problem in the world of finance. It occurs when brokers sell, buy or exchange securities without prior consent from their clients. FINRA prohibits unauthorized trading, and FINRA Rule 3260 states that no broker shall exercise trading discretion in a customer account unless that account has been approved for discretionary trading, both by the customer and the firm. 

Other Disputes  

From 2011 to 2008 Rick Caiazzo was involved in 5 investor disputes, each alleging that he engaged in misrepresentation and made unsuitable investment recommendations. The cases were collectively settled for $312,799.78.  

There are also several denied disputes on Rick Caiazzo’s record. Investors should know that investors can still recover their losses following a denial — denials simply indicate that the firm denies their representative engaged in misconduct.  

Rick Caiazzo Background Information 

Rick Caiazzo: has passed the following exams: 

  • Series 65 - Uniform Investment Adviser Law Examination 
  • Series 66 - Uniform Combined State Law Examination 
  • SIE - Securities Industry Essentials Examination 
  • Series 31 - Futures Managed Funds Examination 
  • Series 7 - General Securities Representative Examination 
  • Series 24 - General Securities Principal Examination 

Rick Caiazzo has worked with the following firms:  

  • Morgan Stanley (CRD#:149777) 
  • UBS Financial Services (CRD#:8174) 
  • Prudential-Bache Securities (CRD#:7471) 
  • Dean Witter Reynolds (CRD#:7556)
  • First Jersey Securities (CRD#:6621) 

Kurta Law Can Help 

If you have suffered losses after working with Rick Caiazzo, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors. 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. Reach out today to start the process to recover your investment losses.