Thomas Diamante Facing FINRA Investigation Following Allegations Misrepresentation
Thomas Diamante (CRD #: 1645257), a broker registered with SW Financial, is facing a FINRA investigation. This is according to his BrokerCheck record.
On February 17, 2022, FINRA made a preliminary determination to recommend disciplinary action against Thomas Diamante. FINRA alleged that Thomas Diamante obtained money in the offer or sale of securities by misrepresentations and omissions. FINRA further alleged he engaged in a transaction, practice, or business which operated as a fraud or deceit on investors.
Thomas Diamante also allegedly failed to enforce a reasonable supervisory standard at his firm, in violation of FINRA Rule 3110.
FINRA Rules and Regulations
FINRA Rule 2020 forbids brokers from misrepresenting or omitting material facts. Fraudulent brokers may misrepresent facts in order to persuade investors to purchase securities. Misrepresentation can include unrealistic projections for future returns.
FINRA Rule 2010 governs that “members shall observe the high standards of commercial honor and just and equitable principles of the trade.”
Thomas Diamante has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 24 – General Securities Principal Examination
Thomas Diamante has worked for the following firms:
- Empire Financial Group, Inc. (CRD # 28759) (expelled by FINRA)
- Atlas Capital Services, LLC (CRD # 103935)
- Paulson Investment Company, Inc. (CRD # 5670)
- Schneider Securities, Inc. (CRD # 16434)
- Investors Associates, Inc. (CRD # 958) (expelled from FINRA)
- Sharpe Capital, Inc. (CRD # 18452) (expelled from FINRA)
- NYLife Securities Inc. (CRD 5167)
- T. Moran & Co., Inc. (CRD # 15655)
- The Stuart-James Company, Inc. (CRD 11691)
Kurta Law Can Help
If you worked with Thomas Diamante and have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated on behalf of investors recovering their investment losses from stockbrokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors. We work on a contingency basis, which means that the firm only earns a fee if our securities attorneys recover money on your behalf. Reach out and we can tell you what steps to take to restore your lost funds.