Dominic Carlo Facing a FINRA Suspension and Fine
Dominic Carlo (CRD #: 2731304), a broker registered with Ceros Financial Services, has a FINRA fine and suspension on his record. This disclosure appears on his BrokerCheck record, accessed on September 1, 2023.
On July 5, 2023, Dominic Carlo entered into an Acceptance, Waiver, and Consent agreement (AWC) in which he consented to the findings that he executed unauthorized trades in accounts that his firm had not approved for discretionary trading. In fact, the firm allegedly did not allow any discretionary trading at the time of the alleged violation. The customers in question had also allegedly not approved the accounts for discretionary trading in writing. This alleged rule violation involved at least 239 transactions and at least 36 customers.
FINRA Rule 3260
FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. Discretionary accounts must also be approved by the firm before discretionary trading can occur.
Sanctions
As part of the terms of the AWC, Dominic Carlo consented to a $2,500 fine and a 10-day suspension.
You can read a copy of the AWC here.
Background Information
Dominic Carlo has passed the following exams:
- 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 36 states and D.C.
Dominic Carlo has registered with the following firms:
- Ceros Financial Services (CRD #: 37869)
- National Securities Corporation (CRD #: 7569)
- J.P. Turner & Company (CRD #: 43177)
Kurta Law Can Help
If you worked with Dominic Carlo and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.
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