Thomas Tibaldi is the Subject of Allegations that He Violated Fiduciary Duties
Thomas Tibaldi (CRD #: 2672406), a broker registered with CitiGroup Global Markets, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on November 7, 2023. Details are provided below.
On August 7, 2023, an investor alleged that Thomas Tibaldi breached his fiduciary duties related to recommendations of structured notes. The investor further alleged negligent supervision. The investor is seeking $55,000.
Investors should know that there are four other investor disputes on his record.
Structured products are a type of financial product that combine the features of a bond with a derivative component, e.g. swaps, futures, or options. The returns investors receive depend on the performance of this derivative component.
The complexity of structured products makes it vital for investors to understand their features and risks before buying in.
Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.)
FINRA Rule 3110
FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).
Thomas Tibaldi has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
He is a registered broker in 28 states and D.C. He is a registered investment adviser in California and New York.
During his 27 years of experience, Thomas Tibaldi has registered with four firms:
- CitiGroup Global Markets (CRD #: 7059)
- CitiCorp Investment Services (CRD #: 23988)
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #: 7691)
- Continental Broker-Dealer Corp. (CRD #: 14048)
Kurta Law Can Help
If you worked with Thomas Tibaldi and have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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 that 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.