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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.” 

Background Information

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 have worked with Thomas Diamante and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. The firm only earns a fee if our securities attorneys recover money on your behalf.