Did you lose money investing with Michael Dellaporta (CRD# 500214)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Michael Dellaporta. If you suffered losses investing with Michael Dellaporta, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of February 28, 2023, Michael Dellaporta’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
Disclosure Events
5 Customer Disputes
1 Regulatory Event
1 Employment Separation After Allegations
1 Financial Disclosure
April 14, 2021 – An AWC was issued in which Dellaporta was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Dellaporta consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA in connection with its investigation into his involvement in an OBA. (FINRA Case #2020069029001)
Current and Previous Registrations
08/10/2018 – 08/28/2019 B.B. GRAHAM & COMPANY, INC. (CRD#:41533) Fort Lauderdale, FL
08/28/2015 – 08/13/2018 FUSION ANALYTICS SECURITIES LLC (CRD#:124245) CORAL SPRINGS, FL
09/10/2010 – 07/17/2015 AMERIPRISE FINANCIAL SERVICES, INC. (CRD#:6363) Ft Lauderdale, FL
02/18/2005 – 09/17/2010 OPPENHEIMER & CO. INC. (CRD#:249) FORT LAUDERDALE, FL
07/01/2003 – 02/18/2005 WACHOVIA SECURITIES, LLC (CRD#:19616) ST. LOUIS, MO
01/14/2005 – 01/14/2005 OPPENHEIMER & CO. INC. (CRD#:249) NEW YORK, NY
01/12/2001 – 07/01/2003 PRUDENTIAL SECURITIES INCORPORATED (CRD#:7471) NEW YORK, NY
07/08/1996 – 11/30/2000 DEAN WITTER REYNOLDS INC. (CRD#:7556) PURCHASE, NY
01/31/1995 – 07/11/1996 ABN AMRO SECURITIES (USA) INC. (CRD#:15776) STAMFORD, CT
02/01/1991 – 01/10/1995 MERIDIAN SECURITIES, INC. (CRD#:16468)
08/19/1987 – 08/27/1991 MORTGAGE GOVERNMENT SECURITIES, INC. (CRD#:19840)
01/03/1986 – 03/01/1989 M.G.S.I. SECURITIES, INC. (CRD#:16723)
07/15/1985 – 12/04/1985 BEAR, STEARNS & CO. INC. (CRD#:79)
06/01/1981 – 04/29/1985 BEVILL, BRESLER & SCHULMAN INCORPORATED (CRD#:6971)
FINRA expelled the firm on 11/25/1986
01/31/1982 – 02/22/1983 AUSTIN INVESTMENT PLANNING, INC. (CRD#:10009)
05/16/1979 – 06/12/1981 E.S.M. SECURITIES, INC. (CRD#:7105)
03/19/1979 – 06/07/1979 HAAS SECURITIES CORPORATION (CRD#:2104)
10/14/1976 – 04/01/1979 BEVILL, BRESLER & SCHULMAN INCORPORATED (CRD#:6971)
FINRA expelled the firm on 11/25/1986
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Michael Dellaporta and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
