Michael Restagno Facing Unsuitable Investment Allegations

Michael Restagno (CRD#: 5532695), a broker registered with Dominari Securities, is facing allegations of unsuitable investment recommendations. This information is publicly available on his BrokerCheck record, accessed on June 13, 2024. Details are provided below. 

Investor Allegations

On July 29, 2022, an investor alleged that Michael Restagno recommended unsuitable investments and engaged in unauthorized trading. They also alleged he engaged in negligence. The dispute was settled for $92,500. 

According to allegations filed on March 7, 2022, Michael Restango engaged in excessive and unauthorized trading as well as misrepresentation and omission of facts. The investor sought $95,000 and the dispute was settled for $50,000. 

On February 9, 2022, an investor alleged that Michael Restagno invested their funds in risky, illiquid REITs. The investor is seeking $150,000; the dispute is pending.

What is a REIT?

A Real Estate Investment Trust (REIT) is a real estate investment that comprises a selection of income-producing real estate. These investments can be high-risk, especially if they are non-traded.

Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable.

Background Information

Michael Restagno 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 registered as a broker in 11 states.

Michael Restagno has registered with three firms: 

• Dominari Securities (CRD #: 18975) 
• Aegis Capital Corp (CRD #: 15007)
• National Securities Corporation (CRD #: 7569) 

Kurta Law Can Help

If you worked with Michael Restagno 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 and 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.