DID MARIO DIVITA CAUSE YOU INVESTMENT LOSSES?
Mario Divita Formerly With Traderfield Securities Inc. Has 3 Customer Complaints For Alleged Broker Misconduct
About Mario Divita formerly with Traderfield Securities Inc.?
Mario Divita (CRD #1504199) is a seasoned professional in the securities industry, though he is not currently registered. Over his career, he has been associated with various firms, including Traderfield Securities Inc. in Flushing, New York, from October 2016 to October 2023; Quasar Trading, LLC in San Juan, Puerto Rico, from November 2014 to December 2015; and Morgan Stanley DW Inc. in Jersey City, New Jersey, from May 1988 to September 2006. His qualifications are extensive, having passed 4 principal/supervisory exams, 5 general industry/product exams, and 1 multi-state securities law exam. His career has seen him registered in multiple U.S. states and territories, reflecting a broad and diverse range of experiences within the industry.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Mario Divita Customer Complaints and Reviews
Mario Divita’s professional record includes the following disclosures:
- Regulatory Events (2):
- First Event: On September 5, 2023, Divita and his firm were sanctioned by FINRA for failing to establish a supervisory system adequate to oversee registered representatives outside business activities (OBAs). This incident involved unmonitored private placement offerings and investment funds, resulting in a sanction that included suspension and mandatory continuing education on supervisory responsibilities.
- Second Event: On November 24, 2021, Divita was sanctioned for failing to supervise a broker who engaged in excessive trading, leading to significant customer losses. The sanction included a fine and further continuing education on supervisory practices.
- Customer Disputes (3): Three disputes were reported where customers alleged issues such as excessive commissions and misrepresentation. Two of these disputes were settled with monetary compensations totaling $68,500.
Allegations Against Mario Divita
- Regulatory Actions:
- Failure to adequately supervise representatives’ OBAs, resulting in unmonitored investment activities.
- Neglect in supervising a broker’s trading activities, which resulted in excessive trading and significant financial losses for clients.
- Customer Complaints:
- Allegations of excessive commissions charged on profitable trades.
- Claims of fraud and misrepresentation regarding transactions conducted between December 2016 and March 2018.
Mario Divita Red Flags & Your Rights As An Investor
Of course, Mario Divita did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Mario Divita at Traderfield Securities Inc. on alert to review carefully the activity and performance of their accounts and question whether Mario Divita has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Traderfield Securities Inc. also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Traderfield Securities Inc. Due To Mario Divita
If you have questions about Traderfield Securities Inc. and/or Mario Divita and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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